Jane Street Group LLC boosted its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 31.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 76,273 shares of the energy company’s stock after buying an additional 18,130 shares during the quarter. Jane Street Group LLC’s holdings in Imperial Oil were worth $1,844,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Virtus ETF Advisers LLC bought a new stake in Imperial Oil during the first quarter valued at approximately $1,801,000. Goldman Sachs Group Inc. grew its position in Imperial Oil by 0.3% during the first quarter. Goldman Sachs Group Inc. now owns 556,586 shares of the energy company’s stock valued at $13,458,000 after buying an additional 1,854 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Imperial Oil during the first quarter valued at approximately $513,000. CIBC Asset Management Inc grew its position in Imperial Oil by 11.3% during the first quarter. CIBC Asset Management Inc now owns 281,381 shares of the energy company’s stock valued at $6,810,000 after buying an additional 28,632 shares during the period. Finally, TD Asset Management Inc. grew its position in Imperial Oil by 1.2% during the first quarter. TD Asset Management Inc. now owns 834,988 shares of the energy company’s stock valued at $20,223,000 after buying an additional 9,651 shares during the period. Institutional investors own 20.97% of the company’s stock.
A number of equities analysts have weighed in on the stock. Barclays upped their price target on shares of Imperial Oil from C$40.00 to C$46.00 and gave the stock an “overweight” rating in a research report on Friday, July 16th. CIBC upped their price target on shares of Imperial Oil from C$35.00 to C$48.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 14th. Raymond James assumed coverage on shares of Imperial Oil in a research report on Tuesday. They issued a “market perform” rating and a $43.00 price target for the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $39.00 price target on shares of Imperial Oil in a research report on Tuesday, May 18th. Finally, TD Securities upped their price target on shares of Imperial Oil from $33.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday, May 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $39.54.
Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings results on Friday, April 30th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.05. The company had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.38 billion. Imperial Oil had a negative net margin of 5.47% and a negative return on equity of 0.29%. On average, equities research analysts predict that Imperial Oil Limited will post 2.47 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 1st. Investors of record on Thursday, June 3rd were paid a dividend of $0.2196 per share. This is an increase from Imperial Oil’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, June 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 3.26%. Imperial Oil’s dividend payout ratio is presently -40.24%.
Imperial Oil Company Profile
Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. It 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, 2020, this segment had 138 million oil-equivalent barrels of proved undeveloped reserves.
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