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

Guinness Asset Management LTD lowered its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in Imperial Oil by 5.1% in the third quarter. EverSource Wealth Advisors LLC now owns 2,599 shares of the energy company’s stock worth $236,000 after purchasing an additional 127 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Imperial Oil by 0.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 21,470 shares of the energy company’s stock worth $1,949,000 after purchasing an additional 166 shares during the period. Smartleaf Asset Management LLC boosted its holdings 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 purchasing an additional 169 shares during the period. NewEdge Advisors LLC boosted its holdings in Imperial Oil by 1.5% in the second quarter. NewEdge Advisors LLC now owns 12,071 shares of the energy company’s stock worth $959,000 after purchasing an additional 184 shares during the period. Finally, Kathmere Capital Management LLC boosted its holdings in Imperial Oil by 2.9% in the fourth quarter. Kathmere Capital Management LLC now owns 6,563 shares of the energy company’s stock worth $566,000 after purchasing an additional 186 shares during the period. Institutional investors and hedge funds own 20.74% of the company’s stock.

Analyst Upgrades and Downgrades

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

Imperial Oil Stock Performance

IMO stock opened at $133.19 on Friday. The company has a market capitalization of $64.41 billion, a P/E ratio of 31.41 and a beta of 0.48. The company has a 50-day simple moving average of $128.74 and a 200 day simple moving average of $110.35. Imperial Oil Limited has a fifty-two week low of $70.61 and a fifty-two week high of $139.44. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.

Imperial Oil Dividend Announcement

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

About Imperial Oil

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.