Swiss National Bank cut its position in shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) by 6.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,066,300 shares of the energy company’s stock after selling 76,100 shares during the period. Swiss National Bank owned approximately 0.13% of Imperial Oil worth $28,203,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of IMO. Virginia Retirement Systems ET AL raised its stake in shares of Imperial Oil by 91.2% in the 1st quarter. Virginia Retirement Systems ET AL now owns 135,700 shares of the energy company’s stock valued at $3,591,000 after acquiring an additional 64,709 shares during the period. Raymond James & Associates raised its stake in shares of Imperial Oil by 41.9% in the 4th quarter. Raymond James & Associates now owns 12,533 shares of the energy company’s stock valued at $391,000 after acquiring an additional 3,700 shares during the period. Luminus Management LLC purchased a new stake in shares of Imperial Oil in the 4th quarter valued at approximately $6,238,000. Two Sigma Investments LP purchased a new stake in shares of Imperial Oil in the 4th quarter valued at approximately $959,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Imperial Oil by 2.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 263,342 shares of the energy company’s stock valued at $8,214,000 after acquiring an additional 6,417 shares during the period.
Get Imperial Oil alerts:
NYSEAMERICAN IMO opened at $32.70 on Friday. Imperial Oil has a 52 week low of $25.91 and a 52 week high of $33.11.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings results on Friday, April 27th. The energy company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.38 by $0.11. Imperial Oil had a negative net margin of 1.70% and a negative return on equity of 2.22%. The company had revenue of $7.93 billion during the quarter, compared to analysts’ expectations of $8.65 billion. During the same quarter in the previous year, the business posted $0.39 EPS. The firm’s revenue was up 10.9% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Sunday, July 1st. Shareholders of record on Friday, June 1st will be issued a dividend of $0.1479 per share. This represents a $0.59 annualized dividend and a yield of 1.81%. The ex-dividend date is Thursday, May 31st. This is a boost from Imperial Oil’s previous quarterly dividend of $0.13.
Several equities research analysts recently weighed in on the stock. Bank of America assumed coverage on shares of Imperial Oil in a research note on Thursday, April 5th. They set an “underperform” rating on the stock. TheStreet downgraded shares of Imperial Oil from a “b-” rating to a “c” rating in a research note on Friday, February 2nd. Raymond James downgraded shares of Imperial Oil from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 24th. Morgan Stanley cut their target price on shares of Imperial Oil from $42.00 to $40.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada raised shares of Imperial Oil from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, January 31st. Five analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $41.60.
Imperial Oil Profile
Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.
Want to see what other hedge funds are holding IMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO).