O Shaughnessy Asset Management LLC Trims Holdings in Imperial Oil Limited $IMO

O Shaughnessy Asset Management LLC cut its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 24.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 161,407 shares of the energy company’s stock after selling 50,840 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Imperial Oil were worth $13,933,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in IMO. AQR Capital Management LLC grew its position in shares of Imperial Oil by 5.0% in the first quarter. AQR Capital Management LLC now owns 34,218 shares of the energy company’s stock valued at $2,475,000 after purchasing an additional 1,627 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Imperial Oil by 54.7% in the first quarter. NewEdge Advisors LLC now owns 11,887 shares of the energy company’s stock valued at $860,000 after purchasing an additional 4,201 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Imperial Oil in the first quarter valued at $200,000. Cetera Investment Advisers grew its position in shares of Imperial Oil by 6.8% in the second quarter. Cetera Investment Advisers now owns 4,569 shares of the energy company’s stock valued at $363,000 after purchasing an additional 291 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Imperial Oil by 4.7% in the second quarter. Invesco Ltd. now owns 354,865 shares of the energy company’s stock valued at $28,205,000 after purchasing an additional 15,834 shares in the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Trading Down 2.9%

Shares of IMO stock opened at $118.98 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $128.26 and a two-hundred day moving average price of $112.93. Imperial Oil Limited has a 12-month low of $74.05 and a 12-month high of $139.44. The firm has a market cap of $57.54 billion, a P/E ratio of 28.06 and a beta of 0.43.

Imperial Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 4th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, June 4th. Imperial Oil’s payout ratio is 38.24%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IMO. Zacks Research upgraded Imperial Oil from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 24th. TD Securities reissued a “sell” rating on shares of Imperial Oil in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada lowered Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price objective for the company. in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Imperial Oil presently has an average rating of “Reduce” and an average target price 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.