PNC Financial Services Group Inc. Sells 59,148 Shares of Imperial Oil Limited $IMO

PNC Financial Services Group Inc. lessened its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 30.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 136,611 shares of the energy company’s stock after selling 59,148 shares during the period. PNC Financial Services Group Inc.’s holdings in Imperial Oil were worth $11,791,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IMO. Westside Investment Management Inc. grew its position in Imperial Oil by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 426 shares of the energy company’s stock valued at $38,000 after acquiring an additional 213 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Imperial Oil by 64.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock valued at $40,000 after acquiring an additional 169 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Imperial Oil by 737.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company’s stock worth $46,000 after buying an additional 450 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Imperial Oil during the 3rd quarter worth $54,000. Finally, Assetmark Inc. grew its position in shares of Imperial Oil by 209.5% during the 4th quarter. Assetmark Inc. now owns 653 shares of the energy company’s stock worth $56,000 after buying an additional 442 shares in the last quarter. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

IMO opened at $133.19 on Friday. Imperial Oil Limited has a 12-month low of $70.61 and a 12-month high of $139.44. 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 business’s fifty day simple moving average is $128.74 and its 200-day simple moving average is $110.35. The company has a market capitalization of $64.41 billion, a price-to-earnings ratio of 31.41 and a beta of 0.48.

Imperial Oil Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IMO shares. TD Securities reissued a “sell” rating on shares of Imperial Oil in a research report on Wednesday, May 13th. Zacks Research raised Imperial Oil from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 24th. Finally, Royal Bank Of Canada downgraded 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, Imperial Oil currently has an average rating of “Reduce” and a consensus 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.