Swiss National Bank Lowers Position in Imperial Oil Limited $IMO

Swiss National Bank decreased its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 512,776 shares of the energy company’s stock after selling 28,900 shares during the quarter. Swiss National Bank owned about 0.10% of Imperial Oil worth $46,515,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. MAI Capital Management increased its holdings in Imperial Oil by 2,275.0% in the 2nd quarter. MAI Capital Management now owns 380 shares of the energy company’s stock valued at $30,000 after acquiring an additional 364 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Imperial Oil by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 426 shares of the energy company’s stock valued at $38,000 after purchasing an additional 213 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Imperial Oil by 64.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock valued at $40,000 after purchasing an additional 169 shares during the last quarter. Tacita Capital Inc grew its position in shares of Imperial Oil by 66.8% during the third quarter. Tacita Capital Inc now owns 934 shares of the energy company’s stock valued at $85,000 after purchasing an additional 374 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Imperial Oil during the third quarter valued at about $123,000. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Stock Performance

NYSEAMERICAN IMO opened at $121.54 on Friday. The business’s 50 day moving average price is $108.17 and its 200-day moving average price is $96.98. Imperial Oil Limited has a fifty-two week low of $58.76 and a fifty-two week high of $123.52. The company has a market cap of $58.78 billion, a P/E ratio of 26.54 and a beta of 0.66. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.94 and a current ratio of 1.27.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 5th will be paid a $0.87 dividend. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, March 5th. Imperial Oil’s payout ratio is currently 38.69%.

Analyst Upgrades and Downgrades

IMO has been the topic of a number of research analyst reports. Raymond James Financial downgraded Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Monday, December 8th. BMO Capital Markets cut Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. Royal Bank Of Canada downgraded Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price objective on the stock. in a research note on Monday, February 23rd. Finally, TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a report on Monday, February 23rd. Five investment analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, Imperial Oil has a consensus rating of “Strong Sell” and a consensus target price of $116.00.

Imperial Oil 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.