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

Park Avenue Securities LLC raised its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMOGet Rating) (TSE:IMO) by 24.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,610 shares of the energy company’s stock after purchasing an additional 1,112 shares during the quarter. Park Avenue Securities LLC’s holdings in Imperial Oil were worth $243,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of IMO. FMR LLC boosted its holdings in shares of Imperial Oil by 69.8% during the 2nd quarter. FMR LLC now owns 25,805,937 shares of the energy company’s stock valued at $1,216,479,000 after acquiring an additional 10,607,896 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of Imperial Oil by 31.1% in the second quarter. GQG Partners LLC now owns 9,897,198 shares of the energy company’s stock worth $465,573,000 after buying an additional 2,346,871 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Imperial Oil by 153.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,505,425 shares of the energy company’s stock worth $72,741,000 after buying an additional 911,333 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Imperial Oil by 505.2% in the first quarter. Mackenzie Financial Corp now owns 837,145 shares of the energy company’s stock worth $40,576,000 after buying an additional 698,818 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Imperial Oil in the first quarter worth approximately $18,037,000. 20.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on IMO shares. JPMorgan Chase & Co. cut shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Monday, December 5th. Royal Bank of Canada raised their target price on shares of Imperial Oil from C$79.00 to C$81.00 in a research note on Tuesday, November 8th. Credit Suisse Group raised their target price on shares of Imperial Oil from C$72.00 to C$80.00 in a research note on Monday, November 21st. TD Securities decreased their target price on shares of Imperial Oil from C$82.00 to C$81.00 in a research note on Wednesday, December 21st. Finally, BMO Capital Markets upgraded shares of Imperial Oil from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $54.00 to $85.00 in a research note on Friday, October 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Imperial Oil currently has an average rating of “Hold” and a consensus price target of $77.44.

Imperial Oil Trading Up 0.9 %

Imperial Oil stock opened at $51.47 on Tuesday. The company has a market cap of $30.07 billion, a PE ratio of 6.74, a P/E/G ratio of 0.24 and a beta of 1.50. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18. Imperial Oil Limited has a 1 year low of $38.31 and a 1 year high of $58.99.

Imperial Oil (NYSEAMERICAN:IMOGet Rating) (TSE:IMO) last released its quarterly earnings data on Wednesday, November 2nd. The energy company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.13. The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $14.33 billion. Imperial Oil had a net margin of 11.14% and a return on equity of 28.06%. On average, equities analysts forecast that Imperial Oil Limited will post 7.57 EPS for the current year.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, January 1st. Investors of record on Friday, December 2nd were given a $0.3226 dividend. This represents a $1.29 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Thursday, December 1st. This is a boost from Imperial Oil’s previous quarterly dividend of $0.26. Imperial Oil’s payout ratio is currently 17.15%.

About Imperial Oil

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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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