Corient Private Wealth LLC Sells 4,698 Shares of Imperial Oil Limited $IMO

Corient Private Wealth LLC decreased its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 23.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,762 shares of the energy company’s stock after selling 4,698 shares during the period. Corient Private Wealth LLC’s holdings in Imperial Oil were worth $1,360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC boosted its position in Imperial Oil by 87.8% during the 4th quarter. Root Financial Partners LLC now owns 293 shares of the energy company’s stock valued at $25,000 after acquiring an additional 137 shares in the last quarter. McMillan Office Inc. bought a new position in shares of Imperial Oil in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC lifted its stake in shares of Imperial Oil by 23.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 531 shares of the energy company’s stock valued at $46,000 after purchasing an additional 101 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Imperial Oil by 737.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company’s stock valued at $46,000 after purchasing an additional 450 shares during the period. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Imperial Oil during the third quarter valued at approximately $54,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Imperial Capital reaffirmed a “sell” rating on shares of Imperial Oil in a research note on Tuesday, June 23rd. Zacks Research lowered Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. TD Securities restated a “sell” rating on shares of Imperial Oil in a report on Wednesday, May 13th. Finally, Scotiabank raised shares of Imperial Oil to a “hold” rating in a research report on Friday, June 26th. Five investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Imperial Oil currently has an average rating of “Reduce” and an average target price of $116.00.

Imperial Oil Stock Down 0.9%

Shares of Imperial Oil stock opened at $110.99 on Thursday. Imperial Oil Limited has a twelve month low of $78.87 and a twelve month high of $139.44. 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’s 50 day moving average is $124.10 and its 200 day moving average is $115.15. The company has a market cap of $53.67 billion, a price-to-earnings ratio of 26.18 and a beta of 0.45.

Imperial Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Thursday, June 4th were issued a $0.87 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $3.48 annualized dividend and a dividend yield of 3.1%. Imperial Oil’s payout ratio is presently 38.24%.

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.