SIR Capital Management L.P. Makes New Investment in Imperial Oil Limited (NYSEAMERICAN:IMO)

SIR Capital Management L.P. bought a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 167,108 shares of the energy company’s stock, valued at approximately $11,405,000.

Several other hedge funds have also made changes to their positions in the stock. Royal London Asset Management Ltd. lifted its holdings in shares of Imperial Oil by 710.5% in the 2nd quarter. Royal London Asset Management Ltd. now owns 91,485 shares of the energy company’s stock worth $6,244,000 after purchasing an additional 80,197 shares during the last quarter. Triasima Portfolio Management inc. lifted its holdings in shares of Imperial Oil by 18.7% in the 2nd quarter. Triasima Portfolio Management inc. now owns 379,050 shares of the energy company’s stock worth $25,833,000 after purchasing an additional 59,750 shares during the last quarter. Caprock Group LLC bought a new stake in shares of Imperial Oil in the 2nd quarter worth approximately $530,000. TD Asset Management Inc lifted its holdings in shares of Imperial Oil by 12.2% in the 2nd quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock worth $258,817,000 after purchasing an additional 412,600 shares during the last quarter. Finally, Fiera Capital Corp lifted its holdings in shares of Imperial Oil by 262.5% in the 2nd quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock worth $6,511,000 after purchasing an additional 69,121 shares during the last quarter. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Trading Down 0.0 %

Shares of IMO stock opened at $67.98 on Tuesday. Imperial Oil Limited has a 1 year low of $52.97 and a 1 year high of $77.70. The firm has a market cap of $35.92 billion, a PE ratio of 10.66 and a beta of 1.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.40.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.11. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. The company had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $10.50 billion. As a group, sell-side analysts expect that Imperial Oil Limited will post 6.29 earnings per share for the current fiscal year.

Imperial Oil Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.4336 per share. This represents a $1.73 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Wednesday, September 4th. Imperial Oil’s dividend payout ratio (DPR) is presently 27.27%.

Analyst Ratings Changes

Several brokerages have weighed in on IMO. Raymond James raised Imperial Oil to a “hold” rating in a research note on Tuesday, May 28th. Scotiabank cut their target price on Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Wolfe Research began coverage on Imperial Oil in a research note on Thursday, July 18th. They set an “outperform” rating and a $108.00 target price on the stock. Finally, StockNews.com downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $99.50.

Imperial Oil 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.