Rempart Asset Management Inc. Decreases Stock Holdings in Imperial Oil Limited $IMO

Rempart Asset Management Inc. lowered its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 22.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,050 shares of the energy company’s stock after selling 900 shares during the period. Rempart Asset Management Inc.’s holdings in Imperial Oil were worth $242,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Wayfinding Financial LLC bought a new position in Imperial Oil during the first quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. boosted its stake in Imperial Oil by 88.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company’s stock valued at $39,000 after acquiring an additional 255 shares during the last quarter. Continuum Advisory LLC purchased a new stake in shares of Imperial Oil during the 1st quarter worth approximately $71,000. Banque Transatlantique SA purchased a new stake in shares of Imperial Oil during the 1st quarter worth approximately $87,000. Finally, AdvisorNet Financial Inc lifted its stake in Imperial Oil by 104.0% in the first quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company’s stock valued at $92,000 after purchasing an additional 650 shares during the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Trading Down 0.1%

Shares of Imperial Oil stock opened at $93.26 on Monday. The company’s 50-day moving average price is $87.57 and its 200-day moving average price is $77.90. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. Imperial Oil Limited has a 12-month low of $58.76 and a 12-month high of $96.09. The company has a market cap of $46.81 billion, a price-to-earnings ratio of 14.37 and a beta of 0.94.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Thursday, September 4th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.52. Imperial Oil’s payout ratio is 31.87%.

Analysts Set New Price Targets

A number of analysts have issued reports on IMO shares. Royal Bank Of Canada raised their target price on Imperial Oil from $108.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Thursday. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 23rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Imperial Oil in a report on Monday, August 4th. Tudor Pickering downgraded shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Finally, Raymond James Financial lowered shares of Imperial Oil from a “moderate buy” rating to a “hold” rating in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.00.

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.