Imperial Oil Limited $IMO Stake Cut by Ritholtz Wealth Management

Ritholtz Wealth Management cut its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 8.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IMO. Ensign Peak Advisors Inc increased its holdings in shares of Imperial Oil by 1.0% in the 4th quarter. Ensign Peak Advisors Inc now owns 9,924 shares of the energy company’s stock valued at $858,000 after purchasing an additional 100 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of 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 purchasing an additional 101 shares during the period. Baron Wealth Management LLC grew its position in Imperial Oil by 3.2% during the first quarter. Baron Wealth Management LLC now owns 4,030 shares of the energy company’s stock valued at $527,000 after purchasing an additional 124 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Imperial Oil by 5.1% during the third quarter. EverSource Wealth Advisors LLC now owns 2,599 shares of the energy company’s stock valued at $236,000 after purchasing an additional 127 shares in the last quarter. Finally, Root Financial Partners LLC increased its stake in Imperial Oil by 87.8% in the 4th quarter. Root Financial Partners LLC now owns 293 shares of the energy company’s stock valued at $25,000 after buying an additional 137 shares during the period. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IMO. TD Securities reissued a “sell” rating on shares of Imperial Oil in a research note on Wednesday, May 13th. Imperial Capital reiterated a “sell” rating on shares of Imperial Oil in a report on Tuesday. Finally, Zacks Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Four equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Imperial Oil presently has a consensus rating of “Strong Sell” and an average price target of $116.00.

Imperial Oil Stock Performance

IMO stock opened at $112.50 on Thursday. 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 company has a market capitalization of $54.40 billion, a price-to-earnings ratio of 26.53 and a beta of 0.43. Imperial Oil Limited has a 12 month low of $78.03 and a 12 month 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.

Imperial Oil Dividend Announcement

The firm 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 is Thursday, June 4th. This represents a $3.48 dividend on an annualized basis and a yield of 3.1%. Imperial Oil’s dividend payout ratio is currently 38.24%.

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.