Point72 Europe London LLP Acquires 202,590 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Point72 Europe London LLP increased its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 131.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 356,972 shares of the energy company’s stock after buying an additional 202,590 shares during the quarter. Imperial Oil comprises approximately 1.6% of Point72 Europe London LLP’s investment portfolio, making the stock its 9th largest holding. Point72 Europe London LLP’s holdings in Imperial Oil were worth $25,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of IMO. FMR LLC boosted its position in Imperial Oil by 3.7% in the 3rd quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock worth $2,598,604,000 after purchasing an additional 1,331,235 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Imperial Oil by 10,896.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock worth $59,135,000 after purchasing an additional 859,288 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Imperial Oil in the 2nd quarter worth approximately $40,729,000. TD Asset Management Inc boosted its position in Imperial Oil by 12.2% in the 2nd quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock worth $258,817,000 after purchasing an additional 412,600 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Imperial Oil by 8.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company’s stock worth $311,175,000 after purchasing an additional 341,689 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Price Performance

Shares of Imperial Oil stock opened at $73.92 on Friday. The company has a market cap of $38.28 billion, a price-to-earnings ratio of 11.02 and a beta of 1.44. Imperial Oil Limited has a 12 month low of $52.97 and a 12 month high of $80.17. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.4304 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.72 annualized dividend and a yield of 2.33%. Imperial Oil’s dividend payout ratio (DPR) is presently 26.53%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IMO shares. StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Scotiabank reaffirmed a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a research note on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Imperial Oil currently has a consensus rating of “Hold” and an average target price of $109.00.

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.