Pictet Asset Management SA Has $3.78 Million Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Pictet Asset Management SA lowered its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMOGet Rating) (TSE:IMO) by 3.2% in the second quarter, Holdings Channel reports. The firm owned 80,287 shares of the energy company’s stock after selling 2,614 shares during the period. Pictet Asset Management SA’s holdings in Imperial Oil were worth $3,777,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. ACG Wealth bought a new position in Imperial Oil in the second quarter valued at approximately $30,000. Atlas Capital Advisors LLC bought a new position in Imperial Oil in the first quarter valued at approximately $33,000. Venture Visionary Partners LLC bought a new position in Imperial Oil in the second quarter valued at approximately $85,000. Van ECK Associates Corp lifted its stake in Imperial Oil by 36.6% in the first quarter. Van ECK Associates Corp now owns 2,268 shares of the energy company’s stock valued at $110,000 after buying an additional 608 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Imperial Oil by 12.5% in the first quarter. Signaturefd LLC now owns 2,875 shares of the energy company’s stock valued at $139,000 after buying an additional 320 shares in the last quarter. Institutional investors and hedge funds own 20.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BMO Capital Markets raised shares of Imperial Oil from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $54.00 to $85.00 in a research note on Friday, October 28th. Scotiabank lowered shares of Imperial Oil from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 13th. Royal Bank of Canada boosted their price objective on shares of Imperial Oil from C$79.00 to C$81.00 in a research report on Tuesday, November 8th. National Bank Financial boosted their price objective on shares of Imperial Oil from C$73.00 to C$80.00 in a research report on Thursday, November 3rd. Finally, Desjardins boosted their price objective on shares of Imperial Oil from C$70.00 to C$80.00 in a research report on Tuesday, November 8th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Imperial Oil currently has a consensus rating of “Hold” and a consensus price target of $72.30.

Imperial Oil Stock Down 0.4 %

NYSEAMERICAN IMO opened at $56.46 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.09 and a current ratio of 1.32. Imperial Oil Limited has a 1 year low of $31.71 and a 1 year high of $58.99. The firm has a market cap of $34.53 billion, a price-to-earnings ratio of 86.86, a PEG ratio of 0.31 and a beta of 1.70.

Imperial Oil (NYSEAMERICAN:IMOGet Rating) (TSE:IMO) last posted its quarterly earnings results on Wednesday, November 2nd. The energy company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.13. Imperial Oil had a net margin of 1.81% and a return on equity of 8.06%. The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $14.33 billion. On average, analysts anticipate that Imperial Oil Limited will post 2.92 earnings per share for the current year.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 2nd will be issued a $0.3226 dividend. This is an increase from Imperial Oil’s previous quarterly dividend of $0.26. This represents a $1.29 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, December 1st. Imperial Oil’s payout ratio is currently 160.00%.

Imperial Oil Profile

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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 for, and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2021, this segment had 386 million oil-equivalent barrels of proved undeveloped reserves.

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Institutional Ownership by Quarter for Imperial Oil (NYSEAMERICAN:IMO)

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