Tidal Investments LLC lessened its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO – Free Report) (TSE:IMO) by 21.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 45,356 shares of the energy company’s stock after selling 12,321 shares during the quarter. Tidal Investments LLC’s holdings in Imperial Oil were worth $5,091,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Root Financial Partners LLC raised its position in Imperial Oil by 87.8% during the fourth quarter. Root Financial Partners LLC now owns 293 shares of the energy company’s stock valued at $25,000 after buying an additional 137 shares during the period. McMillan Office Inc. acquired a new stake in Imperial Oil during the 4th quarter worth about $26,000. Northwestern Mutual Wealth Management Co. grew its stake in Imperial Oil by 737.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company’s stock valued at $46,000 after acquiring an additional 450 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Imperial Oil by 23.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 531 shares of the energy company’s stock valued at $46,000 after acquiring an additional 101 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of Imperial Oil in the 3rd quarter valued at about $54,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.
Imperial Oil Stock Performance
IMO opened at $129.99 on Monday. The stock’s 50 day simple moving average is $128.21 and its 200-day simple moving average is $125.54. The company has a current ratio of 1.38, a quick ratio of 1.19 and a debt-to-equity ratio of 0.16. The stock has a market cap of $62.60 billion, a PE ratio of 21.09 and a beta of 0.46. Imperial Oil Limited has a 1 year low of $83.27 and a 1 year high of $139.44.
Imperial Oil Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.87 per share. The ex-dividend date is Friday, September 4th. This represents a $3.48 dividend on an annualized basis and a yield of 2.7%. Imperial Oil’s dividend payout ratio (DPR) is currently 38.09%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Scotiabank reissued a “sector perform” rating on shares of Imperial Oil in a research report on Friday, July 17th. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a research report on Wednesday, August 5th. Imperial Capital restated a “sell” rating on shares of Imperial Oil in a report on Tuesday, June 23rd. Zacks Research downgraded shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Desjardins raised Imperial Oil to a “hold” rating in a research report on Thursday, July 16th. Four equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Imperial Oil presently has a consensus rating of “Strong Sell” and an average target price of $116.00.
Imperial Oil Profile
Imperial Oil Limited is an integrated Canadian energy company engaged in the exploration, production, transportation, refining and marketing of crude oil and natural gas. Its upstream operations include oil sands mining and in situ production, conventional oil and natural gas assets, and an interest in the Syncrude oil sands project.
The company’s downstream business operates refineries and produces gasoline, diesel, jet fuel, lubricants, asphalt and other petroleum products. Imperial markets fuels and related products across Canada primarily under the Esso and Mobil brands, serving retail, commercial, industrial and aviation customers.
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