Guinness Asset Management Ltd maintained its position in shares of Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 382,966 shares of the energy company’s stock at the end of the second quarter. Imperial Oil accounts for about 2.4% of Guinness Asset Management Ltd’s investment portfolio, making the stock its 24th largest position. Guinness Asset Management Ltd’s holdings in Imperial Oil were worth $11,147,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Albert D Mason Inc. raised its position in shares of Imperial Oil by 0.4% in the first quarter. Albert D Mason Inc. now owns 7,183 shares of the energy company’s stock worth $219,000 after buying an additional 30 shares in the last quarter. Comerica Bank raised its position in shares of Imperial Oil by 1.3% in the first quarter. Comerica Bank now owns 13,983 shares of the energy company’s stock worth $411,000 after buying an additional 181 shares in the last quarter. World Asset Management Inc raised its position in shares of Imperial Oil by 1.3% in the first quarter. World Asset Management Inc now owns 15,175 shares of the energy company’s stock worth $463,000 after buying an additional 193 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Imperial Oil by 0.4% in the first quarter. JPMorgan Chase & Co. now owns 110,053 shares of the energy company’s stock worth $3,355,000 after buying an additional 447 shares in the last quarter. Finally, AGF Investments Inc. raised its position in shares of Imperial Oil by 14.6% in the first quarter. AGF Investments Inc. now owns 7,982 shares of the energy company’s stock worth $243,000 after buying an additional 1,016 shares in the last quarter.
Imperial Oil Ltd (IMO) traded down 0.07% during mid-day trading on Monday, reaching $28.07. The company had a trading volume of 73,525 shares. The stock has a market capitalization of $23.79 billion, a P/E ratio of 11.93 and a beta of 1.14. Imperial Oil Ltd has a 12-month low of $27.59 and a 12-month high of $36.85. The stock has a 50 day moving average price of $28.83 and a 200-day moving average price of $31.26.
Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last issued its quarterly earnings data on Friday, April 28th. The energy company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.13. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $9.14 billion. Imperial Oil had a return on equity of 5.31% and a net margin of 4.76%. During the same period last year, the firm earned ($0.12) EPS. Equities analysts anticipate that Imperial Oil Ltd will post $1.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Friday, June 2nd were issued a dividend of $0.1185 per share. The ex-dividend date was Wednesday, May 31st. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.11. This represents a $0.47 dividend on an annualized basis and a dividend yield of 1.69%. Imperial Oil’s payout ratio is 170.37%.
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Several analysts have recently issued reports on the company. CIBC lowered Imperial Oil from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, May 23rd. Zacks Investment Research raised Imperial Oil from a “strong sell” rating to a “hold” rating in a report on Monday, June 19th. Raymond James Financial, Inc. lowered Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 5th. National Bank Financial assumed coverage on Imperial Oil in a report on Tuesday, June 27th. They set a “sector perform” rating on the stock. Finally, ValuEngine raised Imperial Oil from a “sell” rating to a “hold” rating in a report on Thursday, May 11th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $44.78.
About Imperial Oil
Imperial Oil Limited is an integrated oil company. The Company is engaged in all the phases of the petroleum industry in Canada, including exploration for, and production and sale of, crude oil and natural gas. Its operations are conducted in three segments: Upstream, Downstream and Chemical. The Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.
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