Park Avenue Securities LLC Acquires 1,112 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Park Avenue Securities LLC raised its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) by 24.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,610 shares of the energy company’s stock after acquiring an additional 1,112 shares during the period. Park Avenue Securities LLC’s holdings in Imperial Oil were worth $243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IMO. ACG Wealth acquired a new position in shares of Imperial Oil in the 2nd quarter valued at $30,000. Twin Tree Management LP acquired a new position in shares of Imperial Oil in the 2nd quarter valued at $69,000. Venture Visionary Partners LLC acquired a new position in shares of Imperial Oil in the 2nd quarter valued at $85,000. Ronald Blue Trust Inc. acquired a new position in shares of Imperial Oil in the 3rd quarter valued at $166,000. Finally, Van ECK Associates Corp grew its holdings in shares of Imperial Oil by 55.9% in the 2nd quarter. Van ECK Associates Corp now owns 3,536 shares of the energy company’s stock valued at $167,000 after buying an additional 1,268 shares during the period. Institutional investors own 20.76% of the company’s stock.

Imperial Oil Stock Performance

Imperial Oil stock opened at $51.47 on Tuesday. Imperial Oil Limited has a one year low of $38.31 and a one year high of $58.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 1.06. The stock has a market cap of $30.07 billion, a PE ratio of 6.74, a price-to-earnings-growth ratio of 0.24 and a beta of 1.50.

Imperial Oil (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) last posted its quarterly earnings data on Wednesday, November 2nd. The energy company reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.13. Imperial Oil had a net margin of 11.14% and a return on equity of 28.06%. The company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $14.33 billion. Analysts forecast that Imperial Oil Limited will post 7.57 EPS for the current year.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Stockholders of record on Friday, December 2nd were issued a $0.3226 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 2.51%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, December 1st. Imperial Oil’s dividend payout ratio is presently 17.15%.

Analyst Upgrades and Downgrades

IMO has been the subject of several research analyst reports. TD Securities decreased their price target on shares of Imperial Oil from C$82.00 to C$81.00 in a report on Wednesday, December 21st. BMO Capital Markets raised shares of Imperial Oil from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $54.00 to $85.00 in a report on Friday, October 28th. CIBC reduced their target price on shares of Imperial Oil from C$80.00 to C$76.00 in a research note on Tuesday, January 17th. National Bank Financial upped their target price on shares of Imperial Oil from C$80.00 to C$85.00 in a research note on Wednesday, January 11th. Finally, Scotiabank reduced their target price on shares of Imperial Oil from C$78.00 to C$72.00 in a research note on Tuesday, January 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.44.

Imperial Oil Company 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.