Hsbc Holdings PLC Reduces Stock Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Hsbc Holdings PLC reduced its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 93.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,819 shares of the energy company’s stock after selling 122,910 shares during the quarter. Hsbc Holdings PLC’s holdings in Imperial Oil were worth $603,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. TD Asset Management Inc grew its stake in Imperial Oil by 201.0% in the first quarter. TD Asset Management Inc now owns 3,384,060 shares of the energy company’s stock worth $233,640,000 after purchasing an additional 2,259,766 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of Imperial Oil in the 2nd quarter worth about $40,729,000. Capital World Investors lifted its position in Imperial Oil by 134.0% during the 1st quarter. Capital World Investors now owns 747,929 shares of the energy company’s stock valued at $51,588,000 after acquiring an additional 428,252 shares during the period. Point72 Asset Management L.P. boosted its stake in Imperial Oil by 35.6% during the fourth quarter. Point72 Asset Management L.P. now owns 1,120,229 shares of the energy company’s stock worth $63,913,000 after acquiring an additional 293,910 shares in the last quarter. Finally, SIR Capital Management L.P. purchased a new stake in Imperial Oil in the second quarter worth about $11,405,000. 20.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wolfe Research started coverage on Imperial Oil in a research report on Thursday, July 18th. They issued an “outperform” rating and a $108.00 price target on the stock. Scotiabank reissued a “sector perform” rating and issued a $110.00 target price on shares of Imperial Oil in a research note on Wednesday, September 25th. Finally, StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $99.50.

Imperial Oil Trading Up 0.2 %

Shares of IMO stock opened at $70.45 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.40 and a quick ratio of 1.16. Imperial Oil Limited has a 52 week low of $52.97 and a 52 week high of $77.70. The company has a market capitalization of $37.23 billion, a PE ratio of 11.04 and a beta of 1.45.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.11. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. The business had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $10.50 billion. As a group, sell-side analysts anticipate that Imperial Oil Limited will post 6.2 EPS for the current year.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.4336 per share. This represents a $1.73 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, September 4th. Imperial Oil’s dividend payout ratio is presently 27.90%.

Imperial Oil Profile

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.