Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by Swiss National Bank

Swiss National Bank decreased its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 12.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 566,476 shares of the energy company’s stock after selling 77,200 shares during the quarter. Swiss National Bank owned approximately 0.11% of Imperial Oil worth $39,060,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of IMO. NewEdge Wealth LLC grew its holdings in shares of Imperial Oil by 67.0% during the fourth quarter. NewEdge Wealth LLC now owns 29,218 shares of the energy company’s stock valued at $1,671,000 after purchasing an additional 11,717 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Imperial Oil by 137.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,842 shares of the energy company’s stock worth $5,086,000 after buying an additional 51,449 shares in the last quarter. Wellington Management Group LLP grew its holdings in Imperial Oil by 11.1% in the 4th quarter. Wellington Management Group LLP now owns 197,264 shares of the energy company’s stock worth $11,292,000 after buying an additional 19,731 shares in the last quarter. Quadrature Capital Ltd bought a new position in Imperial Oil in the 4th quarter worth approximately $5,124,000. Finally, Cerity Partners LLC bought a new position in Imperial Oil in the 4th quarter worth approximately $1,745,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Raymond James upgraded Imperial Oil to a “hold” rating in a report on Tuesday, May 28th. StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Monday, July 1st. Finally, Scotiabank lowered their price target on Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $91.50.

Imperial Oil Stock Performance

Shares of Imperial Oil stock traded up $0.28 on Monday, reaching $70.72. 78,641 shares of the stock were exchanged, compared to its average volume of 390,349. The company has a market cap of $37.89 billion, a PE ratio of 11.04 and a beta of 1.47. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a one year low of $48.26 and a one year high of $74.58.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings data on Friday, April 26th. The energy company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.10. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $11.61 billion. As a group, equities research analysts forecast that Imperial Oil Limited will post 6.25 earnings per share for the current fiscal year.

Imperial Oil Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a $0.4377 dividend. This represents a $1.75 annualized dividend and a yield of 2.48%. The ex-dividend date was Monday, June 3rd. Imperial Oil’s dividend payout ratio is currently 27.59%.

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.