QV Investors Inc. Lowers Stock Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

QV Investors Inc. cut its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 448,214 shares of the energy company’s stock after selling 1,767 shares during the quarter. Imperial Oil comprises about 2.8% of QV Investors Inc.’s portfolio, making the stock its 9th biggest holding. QV Investors Inc.’s holdings in Imperial Oil were worth $31,569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning raised its stake in Imperial Oil by 13.1% in the 3rd quarter. Creative Planning now owns 43,329 shares of the energy company’s stock worth $3,053,000 after purchasing an additional 5,024 shares in the last quarter. Grove Bank & Trust raised its position in shares of Imperial Oil by 438.0% in the third quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock valued at $38,000 after buying an additional 438 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of Imperial Oil by 17.4% in the third quarter. Ritholtz Wealth Management now owns 59,726 shares of the energy company’s stock valued at $4,208,000 after buying an additional 8,858 shares in the last quarter. Aprio Wealth Management LLC bought a new stake in shares of Imperial Oil in the third quarter valued at approximately $208,000. Finally, Azzad Asset Management Inc. ADV grew its position in Imperial Oil by 0.9% during the third quarter. Azzad Asset Management Inc. ADV now owns 61,104 shares of the energy company’s stock worth $4,305,000 after buying an additional 550 shares in the last quarter. 20.74% of the stock is owned by institutional investors and hedge funds.

Imperial Oil Trading Down 3.7 %

Shares of IMO opened at $75.30 on Wednesday. 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 $80.17. The firm has a market capitalization of $39.79 billion, a PE ratio of 10.67 and a beta of 1.44.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.11. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. The firm had revenue of $9.78 billion for the quarter, compared to analyst estimates of $10.50 billion. Sell-side analysts predict that Imperial Oil Limited will post 6.2 earnings per share for the current fiscal year.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.4336 per share. This represents a $1.73 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Wednesday, September 4th. Imperial Oil’s payout ratio is 25.21%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on IMO shares. Wolfe Research assumed coverage on Imperial Oil in a report on Thursday, July 18th. They issued an “outperform” rating and a $108.00 price objective for the company. StockNews.com cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Scotiabank reiterated a “sector perform” rating and set a $110.00 price objective on shares of Imperial Oil in a research note on Wednesday, September 25th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.50.

Imperial Oil Company 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.