Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in Imperial Oil Limited (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) by 116.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,609 shares of the energy company’s stock after acquiring an additional 76,109 shares during the period. Renaissance Technologies LLC’s holdings in Imperial Oil were worth $6,129,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Twin Tree Management LP acquired a new stake in Imperial Oil in the second quarter valued at $69,000. EverSource Wealth Advisors LLC raised its holdings in shares of Imperial Oil by 1,250.8% during the third quarter. EverSource Wealth Advisors LLC now owns 2,553 shares of the energy company’s stock worth $111,000 after purchasing an additional 2,364 shares during the period. Ronald Blue Trust Inc. acquired a new stake in shares of Imperial Oil during the third quarter worth $166,000. Signaturefd LLC raised its holdings in shares of Imperial Oil by 12.6% during the third quarter. Signaturefd LLC now owns 3,874 shares of the energy company’s stock worth $168,000 after purchasing an additional 433 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Imperial Oil by 1,406.1% during the third quarter. Tower Research Capital LLC TRC now owns 4,443 shares of the energy company’s stock worth $194,000 after purchasing an additional 4,148 shares during the period. 20.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IMO has been the topic of a number of research reports. JPMorgan Chase & Co. cut shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Monday, December 5th. National Bank Financial increased their target price on shares of Imperial Oil from C$80.00 to C$85.00 in a report on Wednesday, January 11th. Scotiabank dropped their target price on shares of Imperial Oil from C$78.00 to C$72.00 in a report on Tuesday, January 17th. Raymond James increased their target price on shares of Imperial Oil from C$70.00 to C$74.00 in a report on Wednesday, February 1st. Finally, TD Securities lowered their price target on shares of Imperial Oil from C$82.00 to C$81.00 in a research report on Wednesday, December 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $79.33.

Imperial Oil Trading Down 0.8 %

Shares of IMO opened at $50.67 on Friday. The stock has a market capitalization of $29.60 billion, a P/E ratio of 6.63, a P/E/G ratio of 0.24 and a beta of 1.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 1.06. Imperial Oil Limited has a 52-week low of $39.95 and a 52-week high of $58.99.

Imperial Oil (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) last announced its earnings results on Tuesday, January 31st. The energy company reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.27. The firm had revenue of $10.65 billion during the quarter, compared to analyst estimates of $13.22 billion. Imperial Oil had a net margin of 11.14% and a return on equity of 28.06%. As a group, sell-side analysts predict that Imperial Oil Limited will post 7.57 EPS for the current year.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 3rd will be given a $0.3298 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Thursday, March 2nd. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.32. Imperial Oil’s dividend payout ratio is currently 17.15%.

Imperial Oil Profile

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Imperial Oil Ltd. engages in the provision of integrated oil business. It operates through the following business segments: Upstream, Downstream, Chemical, and Corporate and Other. The Upstream segment includes the exploration and production of crude oil, natural gas, synthetic oil, and bitumen. The Downstream segment focuses on refining crude oil into petroleum products.