Swiss National Bank Sells 28,900 Shares of Imperial Oil Limited $IMO

Swiss National Bank reduced its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 5.3% during the third quarter, HoldingsChannel.com reports. The firm owned 512,776 shares of the energy company’s stock after selling 28,900 shares during the period. Swiss National Bank’s holdings in Imperial Oil were worth $46,515,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in shares of 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 buying an additional 127 shares during the period. Gold Investment Management Ltd. raised its holdings in shares of Imperial Oil by 0.6% in the third quarter. Gold Investment Management Ltd. now owns 28,322 shares of the energy company’s stock worth $2,568,000 after buying an additional 161 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Imperial Oil by 0.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 21,470 shares of the energy company’s stock worth $1,949,000 after acquiring an additional 166 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Imperial Oil by 64.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock worth $40,000 after acquiring an additional 169 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Imperial Oil by 1.5% during the 2nd quarter. NewEdge Advisors LLC now owns 12,071 shares of the energy company’s stock valued at $959,000 after acquiring an additional 184 shares during the period. Institutional investors own 20.74% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on IMO. BMO Capital Markets downgraded Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a research report on Monday, February 23rd. Royal Bank Of Canada lowered shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 target price for the company. in a research note on Monday, February 23rd. Finally, Raymond James Financial cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. Five equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and an average price target of $116.00.

Imperial Oil Stock Up 1.1%

Shares of Imperial Oil stock opened at $121.54 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.27 and a quick ratio of 0.94. The stock has a market cap of $58.78 billion, a price-to-earnings ratio of 26.54 and a beta of 0.66. The firm’s 50-day moving average is $108.17 and its two-hundred day moving average is $96.98. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $123.52.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 5th will be paid a dividend of $0.87 per share. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Thursday, March 5th. Imperial Oil’s payout ratio is 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.