QV Investors Inc. Makes New $19.89 Million Investment in Imperial Oil Limited $IMO

QV Investors Inc. acquired a new stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 219,340 shares of the energy company’s stock, valued at approximately $19,893,000. Imperial Oil accounts for 1.7% of QV Investors Inc.’s investment portfolio, making the stock its 20th largest position.

A number of other large investors have also modified their holdings of the company. PDS Planning Inc bought a new stake in Imperial Oil in the 2nd quarter valued at $237,000. Maryland State Retirement & Pension System boosted its position in shares of Imperial Oil by 12.6% during the 2nd quarter. Maryland State Retirement & Pension System now owns 67,867 shares of the energy company’s stock valued at $5,400,000 after acquiring an additional 7,595 shares in the last quarter. Bessemer Group Inc. increased its stake in Imperial Oil by 32.0% in the second quarter. Bessemer Group Inc. now owns 31,278 shares of the energy company’s stock valued at $2,482,000 after acquiring an additional 7,588 shares during the period. Vise Technologies Inc. bought a new stake in Imperial Oil in the second quarter valued at about $1,235,000. Finally, Morningstar Investment Management LLC acquired a new position in Imperial Oil in the second quarter worth about $612,000. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Stock Performance

Shares of NYSEAMERICAN:IMO opened at $99.21 on Friday. The business has a fifty day moving average of $92.53 and a 200-day moving average of $89.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.17 and a current ratio of 1.47. Imperial Oil Limited has a twelve month low of $58.76 and a twelve month high of $101.01. The firm has a market cap of $47.98 billion, a PE ratio of 17.88 and a beta of 0.70.

Imperial Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Wednesday, December 3rd were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.9%. The ex-dividend date was Wednesday, December 3rd. Imperial Oil’s dividend payout ratio (DPR) is presently 31.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IMO shares. Raymond James Financial downgraded Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Imperial Oil in a research note on Wednesday, November 5th. Cibc World Mkts cut Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. BMO Capital Markets cut Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. Finally, Zacks Research downgraded shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Six equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Imperial Oil has a consensus rating of “Reduce” and a consensus price target of $115.00.

Imperial Oil Company Profile

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.