Guinness Asset Management LTD Lowers Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Guinness Asset Management LTD decreased its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 16.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 212,108 shares of the energy company’s stock after selling 42,986 shares during the quarter. Guinness Asset Management LTD’s holdings in Imperial Oil were worth $14,920,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IMO. RFP Financial Group LLC purchased a new position in shares of Imperial Oil during the 2nd quarter valued at $25,000. Hexagon Capital Partners LLC boosted its stake in shares of Imperial Oil by 84.0% in the first quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock worth $34,000 after acquiring an additional 225 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Imperial Oil during the first quarter worth about $46,000. Cubist Systematic Strategies LLC raised its stake in Imperial Oil by 43.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,300 shares of the energy company’s stock valued at $157,000 after purchasing an additional 700 shares during the period. Finally, CWM LLC lifted its holdings in Imperial Oil by 8.7% in the 2nd quarter. CWM LLC now owns 2,319 shares of the energy company’s stock worth $158,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 20.74% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Scotiabank reiterated a “sector perform” rating and issued a $110.00 price target on shares of Imperial Oil in a research note on Wednesday, September 25th. Wolfe Research initiated coverage on Imperial Oil in a research note on Thursday, July 18th. They set an “outperform” rating and a $108.00 price target for the company. Finally, StockNews.com downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Imperial Oil has an average rating of “Hold” and an average price target of $99.50.

Imperial Oil Trading Down 0.5 %

IMO stock traded down $0.40 during trading on Friday, hitting $78.31. The company had a trading volume of 379,283 shares, compared to its average volume of 396,810. The company has a market capitalization of $41.38 billion, a PE ratio of 11.09 and a beta of 1.44. Imperial Oil Limited has a 52-week low of $52.97 and a 52-week high of $79.29. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.40 and a quick ratio of 1.16.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.11. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. The business had revenue of $9.78 billion for the quarter, compared to analyst estimates of $10.50 billion. On average, research analysts anticipate that Imperial Oil Limited will post 6.2 EPS for the current year.

Imperial Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Wednesday, September 4th were paid a $0.4336 dividend. This represents a $1.73 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Wednesday, September 4th. Imperial Oil’s dividend payout ratio is currently 25.21%.

Imperial Oil Company Profile

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.