Assenagon Asset Management S.A. Buys 32,214 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Assenagon Asset Management S.A. increased its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 855.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,981 shares of the energy company’s stock after buying an additional 32,214 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Imperial Oil were worth $2,534,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. RFP Financial Group LLC acquired a new stake in Imperial Oil during the 2nd quarter valued at $25,000. Grove Bank & Trust increased its holdings in Imperial Oil by 438.0% during the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock valued at $38,000 after purchasing an additional 438 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Imperial Oil during the 1st quarter valued at $46,000. Hexagon Capital Partners LLC increased its holdings in Imperial Oil by 45.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 718 shares of the energy company’s stock valued at $49,000 after purchasing an additional 225 shares in the last quarter. Finally, Oakworth Capital Inc. acquired a new stake in Imperial Oil during the 3rd quarter valued at $101,000. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Up 0.4 %

Shares of Imperial Oil stock opened at $74.48 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.40 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a 12 month low of $52.97 and a 12 month high of $80.17. The firm has a market cap of $39.36 billion, a P/E ratio of 10.55 and a beta of 1.44.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its quarterly earnings data on Friday, August 2nd. The energy company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.11. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. The business had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $10.50 billion. As a group, equities research analysts expect that Imperial Oil Limited will post 6.14 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Wednesday, September 4th were paid a dividend of $0.4336 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 2.33%. Imperial Oil’s dividend payout ratio (DPR) is presently 25.21%.

Analysts Set New Price Targets

IMO has been the subject of several research reports. Scotiabank reissued a “sector perform” rating and issued a $110.00 target price on shares of Imperial Oil in a research note on Wednesday, September 25th. StockNews.com cut Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Wolfe Research initiated coverage on Imperial Oil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $108.00 target price for the company. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $99.50.

Imperial Oil Company Profile

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.