Imperial Oil Limited $IMO Stake Reduced by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 8.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,799 shares of the energy company’s stock after selling 5,116 shares during the quarter. Ritholtz Wealth Management’s holdings in Imperial Oil were worth $7,169,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Root Financial Partners LLC grew its stake in shares of Imperial Oil by 87.8% in the 4th quarter. Root Financial Partners LLC now owns 293 shares of the energy company’s stock worth $25,000 after purchasing an additional 137 shares during the last quarter. McMillan Office Inc. acquired a new stake in Imperial Oil during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its holdings in Imperial Oil by 23.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 531 shares of the energy company’s stock worth $46,000 after buying an additional 101 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Imperial Oil by 737.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company’s stock worth $46,000 after buying an additional 450 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new position in Imperial Oil in the third quarter worth approximately $54,000. Institutional investors own 20.74% of the company’s stock.

Analyst Ratings Changes

IMO has been the topic of several research reports. Imperial Capital reaffirmed a “sell” rating on shares of Imperial Oil in a report on Tuesday. Zacks Research lowered Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, TD Securities restated a “sell” rating on shares of Imperial Oil in a report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Strong Sell” and an average price target of $116.00.

Imperial Oil Price Performance

IMO stock opened at $112.50 on Thursday. Imperial Oil Limited has a one year low of $78.03 and a one year high of $139.44. The firm has a 50-day moving average of $125.29 and a two-hundred day moving average of $114.41. The firm has a market capitalization of $54.40 billion, a PE ratio of 26.53 and a beta of 0.43. The company has a current ratio of 1.23, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17.

Imperial Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 4th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, June 4th. Imperial Oil’s payout ratio is 38.24%.

Imperial Oil Company Profile

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.