Imperial Oil Limited $IMO Shares Sold by Guinness Asset Management LTD

Guinness Asset Management LTD lowered its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 10.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 88,678 shares of the energy company’s stock after selling 10,158 shares during the quarter. Guinness Asset Management LTD’s holdings in Imperial Oil were worth $7,618,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IMO. Westside Investment Management Inc. raised its position in Imperial Oil by 100.0% in the third quarter. Westside Investment Management Inc. now owns 426 shares of the energy company’s stock worth $38,000 after acquiring an additional 213 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Imperial Oil by 64.8% in the third quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock worth $40,000 after acquiring an additional 169 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Imperial Oil by 737.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company’s stock worth $46,000 after acquiring an additional 450 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Imperial Oil in the third quarter worth about $54,000. Finally, Assetmark Inc. raised its position in Imperial Oil by 209.5% in the fourth quarter. Assetmark Inc. now owns 653 shares of the energy company’s stock worth $56,000 after acquiring an additional 442 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Price Performance

NYSEAMERICAN IMO opened at $133.19 on Friday. The stock’s 50-day moving average price is $128.74 and its two-hundred day moving average price is $110.35. The company has a current ratio of 1.23, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. The company has a market cap of $64.41 billion, a PE ratio of 31.41 and a beta of 0.48. Imperial Oil Limited has a 1 year low of $70.61 and a 1 year high of $139.44.

Imperial Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.6%. The ex-dividend date is Thursday, June 4th. Imperial Oil’s payout ratio is presently 38.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IMO shares. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a research report on Wednesday, May 13th. Royal Bank Of Canada cut shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price target on the stock. in a research report on Monday, February 23rd. Finally, Zacks Research upgraded shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $116.00.

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.