NorthCoast Asset Management LLC Cuts Holdings in Imperial Oil Ltd (IMO)

NorthCoast Asset Management LLC reduced its position in shares of Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,152 shares of the energy company’s stock after selling 4,932 shares during the period. NorthCoast Asset Management LLC’s holdings in Imperial Oil were worth $1,318,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of IMO. American Century Companies Inc. grew its position in shares of Imperial Oil by 4.6% in the second quarter. American Century Companies Inc. now owns 10,464,468 shares of the energy company’s stock valued at $305,029,000 after purchasing an additional 455,688 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of Imperial Oil by 9.8% in the second quarter. First Eagle Investment Management LLC now owns 9,319,242 shares of the energy company’s stock valued at $271,727,000 after purchasing an additional 831,439 shares in the last quarter. TD Asset Management Inc. grew its position in shares of Imperial Oil by 10.2% in the second quarter. TD Asset Management Inc. now owns 8,573,953 shares of the energy company’s stock valued at $249,559,000 after purchasing an additional 794,733 shares in the last quarter. Mawer Investment Management Ltd. grew its position in shares of Imperial Oil by 210.3% in the first quarter. Mawer Investment Management Ltd. now owns 8,368,089 shares of the energy company’s stock valued at $380,132,000 after purchasing an additional 5,671,213 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Imperial Oil by 3.7% in the first quarter. Vanguard Group Inc. now owns 6,268,027 shares of the energy company’s stock valued at $191,175,000 after purchasing an additional 224,715 shares in the last quarter.

A number of equities research analysts have recently issued reports on IMO shares. Zacks Investment Research upgraded Imperial Oil from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a research report on Tuesday, May 16th. CIBC lowered Imperial Oil from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, May 23rd. BidaskClub upgraded Imperial Oil from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. National Bank Financial assumed coverage on Imperial Oil in a research report on Tuesday, June 27th. They issued a “sector perform” rating for the company. Finally, UBS AG lowered Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 5th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $46.38.

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Shares of Imperial Oil Ltd (NYSEMKT:IMO) traded up 0.62% during mid-day trading on Monday, hitting $30.85. The stock had a trading volume of 26,002 shares. The company’s 50 day moving average price is $29.21 and its 200 day moving average price is $29.59. Imperial Oil Ltd has a 12-month low of $27.59 and a 12-month high of $36.85. The stock has a market cap of $26.05 billion, a P/E ratio of 12.14 and a beta of 1.14.

Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last posted its earnings results on Friday, July 28th. The energy company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.30. The business had revenue of $7.03 billion for the quarter, compared to analyst estimates of $8.40 billion. Imperial Oil had a negative net margin of 1.10% and a negative return on equity of 1.23%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) EPS. Equities research analysts predict that Imperial Oil Ltd will post $0.98 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 1st will be issued a dividend of $0.1279 per share. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.12. The ex-dividend date is Wednesday, August 30th. This represents a $0.51 annualized dividend and a dividend yield of 1.67%. Imperial Oil’s payout ratio is presently 170.37%.

About Imperial Oil

Imperial Oil Limited is an integrated oil company. The Company is engaged in all the phases of the petroleum industry in Canada, including exploration for, and production and sale of, crude oil and natural gas. Its operations are conducted in three segments: Upstream, Downstream and Chemical. The Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.

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

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