Ontario Teachers Pension Plan Board Acquires 1,744 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Ontario Teachers Pension Plan Board lifted its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 1.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 137,027 shares of the energy company’s stock after acquiring an additional 1,744 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Imperial Oil were worth $6,968,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. BNP Paribas Arbitrage SNC purchased a new position in shares of Imperial Oil in the third quarter worth $35,000. Spire Wealth Management increased its stake in shares of Imperial Oil by 189.6% in the first quarter. Spire Wealth Management now owns 724 shares of the energy company’s stock worth $37,000 after buying an additional 474 shares during the period. Pacifica Partners Inc. purchased a new position in shares of Imperial Oil in the first quarter worth $54,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Imperial Oil by 229.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,724 shares of the energy company’s stock worth $84,000 after buying an additional 1,200 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of Imperial Oil by 149.3% in the first quarter. IFP Advisors Inc now owns 2,687 shares of the energy company’s stock worth $88,000 after buying an additional 1,609 shares during the period. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Price Performance

Imperial Oil stock traded up $0.95 during mid-day trading on Monday, reaching $57.91. The stock had a trading volume of 303,600 shares, compared to its average volume of 472,902. The firm has a market cap of $33.70 billion, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 0.40 and a beta of 1.57. The company’s 50-day moving average price is $48.76. Imperial Oil Limited has a one year low of $40.20 and a one year high of $58.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.26.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its quarterly earnings results on Friday, July 28th. The energy company reported $0.86 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.86. The company had revenue of $8.80 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Imperial Oil had a net margin of 10.61% and a return on equity of 23.61%. On average, equities research analysts anticipate that Imperial Oil Limited will post 5.21 earnings per share for the current fiscal year.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be paid a dividend of $0.3789 per share. The ex-dividend date is Thursday, August 31st. This represents a $1.52 annualized dividend and a yield of 2.62%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.37. Imperial Oil’s dividend payout ratio is currently 21.48%.

Wall Street Analyst Weigh In

IMO has been the topic of several analyst reports. CIBC lifted their target price on shares of Imperial Oil from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 29th. UBS Group initiated coverage on shares of Imperial Oil in a research report on Wednesday, July 12th. They set a “buy” rating on the stock. Finally, StockNews.com initiated coverage on shares of Imperial Oil in a research report on Wednesday, August 23rd. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.00.

About Imperial Oil

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 crude oil, and bitumen. The Downstream segment is involved in the transportation and refining of crude oil, blending of refined products, and the distribution and marketing of refined products.