Hillsdale Investment Management Inc. Lowers Stock Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Hillsdale Investment Management Inc. decreased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 94.5% during the first quarter, HoldingsChannel reports. The firm owned 10,600 shares of the energy company’s stock after selling 181,510 shares during the period. Hillsdale Investment Management Inc.’s holdings in Imperial Oil were worth $731,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Imperial Oil by 296.1% during the third quarter. Wellington Management Group LLP now owns 177,533 shares of the energy company’s stock valued at $10,984,000 after buying an additional 132,713 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Imperial Oil by 1.1% during the third quarter. Vanguard Group Inc. now owns 6,632,262 shares of the energy company’s stock valued at $408,481,000 after buying an additional 70,144 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of Imperial Oil by 8.6% during the fourth quarter. CoreCap Advisors LLC now owns 5,322 shares of the energy company’s stock valued at $304,000 after buying an additional 420 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in shares of Imperial Oil by 4.9% during the fourth quarter. AustralianSuper Pty Ltd now owns 384,492 shares of the energy company’s stock valued at $21,903,000 after buying an additional 18,031 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of Imperial Oil by 45.5% during the fourth quarter. Raymond James & Associates now owns 29,667 shares of the energy company’s stock valued at $1,697,000 after buying an additional 9,271 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

IMO has been the topic of a number of recent research reports. Raymond James raised Imperial Oil to a “hold” rating in a research note on Tuesday, May 28th. Scotiabank cut their target price on Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. StockNews.com cut Imperial Oil from a “buy” rating to a “hold” rating in a research note on Monday, July 1st. Finally, Wolfe Research initiated coverage on Imperial Oil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $108.00 target price on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $94.80.

Imperial Oil Stock Performance

IMO traded down $1.04 on Tuesday, hitting $69.14. The company had a trading volume of 80,363 shares, compared to its average volume of 387,236. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.04. Imperial Oil Limited has a 52-week low of $51.11 and a 52-week high of $74.58. The firm has a market capitalization of $37.05 billion, a PE ratio of 11.01 and a beta of 1.47.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings data on Friday, April 26th. The energy company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.55 by $0.10. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $11.61 billion. On average, analysts anticipate that Imperial Oil Limited will post 6.22 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a $0.4377 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.75 annualized dividend and a yield of 2.53%. Imperial Oil’s dividend payout ratio (DPR) is presently 27.59%.

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.