QV Investors Inc. Has $31.57 Million Stock Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

QV Investors Inc. lessened its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 448,214 shares of the energy company’s stock after selling 1,767 shares during the quarter. Imperial Oil makes up approximately 2.8% of QV Investors Inc.’s holdings, making the stock its 9th biggest holding. QV Investors Inc. owned about 0.08% of Imperial Oil worth $31,569,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IMO. RFP Financial Group LLC bought a new stake in Imperial Oil in the second quarter valued at about $25,000. Hexagon Capital Partners LLC grew its position in shares of Imperial Oil by 84.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock worth $34,000 after buying an additional 225 shares during the period. Grove Bank & Trust increased its stake in shares of Imperial Oil by 438.0% in the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock valued at $38,000 after acquiring an additional 438 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Imperial Oil in the 1st quarter valued at approximately $46,000. Finally, Cubist Systematic Strategies LLC boosted its stake in Imperial Oil by 43.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,300 shares of the energy company’s stock worth $157,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Imperial Oil Trading Down 3.7 %

IMO opened at $75.30 on Wednesday. Imperial Oil Limited has a 52-week low of $52.97 and a 52-week high of $80.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.40. The stock has a market cap of $39.79 billion, a P/E ratio of 10.67 and a beta of 1.44.

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

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors 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 dividend yield of 2.30%. The ex-dividend date of this dividend was Wednesday, September 4th. Imperial Oil’s payout ratio is presently 25.21%.

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.