Bank of New York Mellon Corp Sells 43,964 Shares of Imperial Oil Limited $IMO

Bank of New York Mellon Corp decreased its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 16.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 227,435 shares of the energy company’s stock after selling 43,964 shares during the period. Bank of New York Mellon Corp’s holdings in Imperial Oil were worth $29,753,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IMO. Root Financial Partners LLC boosted its position in shares of Imperial Oil by 87.8% during the 4th quarter. Root Financial Partners LLC now owns 293 shares of the energy company’s stock worth $25,000 after purchasing an additional 137 shares in the last quarter. McMillan Office Inc. bought a new stake in Imperial Oil during the fourth quarter worth $26,000. Smartleaf Asset Management LLC grew its position in shares of Imperial Oil by 23.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 531 shares of the energy company’s stock valued at $46,000 after acquiring an additional 101 shares during the period. Northwestern Mutual Wealth Management Co. lifted 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 valued at $46,000 after buying an additional 450 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Imperial Oil during the 3rd quarter valued at approximately $54,000. 20.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Imperial Capital restated a “sell” rating on shares of Imperial Oil in a research note on Tuesday, June 23rd. Zacks Research upgraded Imperial Oil from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Desjardins upgraded shares of Imperial Oil to a “hold” rating in a report on Thursday, July 16th. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research note on Wednesday, May 13th. Finally, Scotiabank restated a “sector perform” rating on shares of Imperial Oil in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $116.00.

Imperial Oil Stock Performance

Shares of IMO opened at $128.48 on Monday. The business’s fifty day simple moving average is $121.36 and its two-hundred day simple moving average is $119.29. The company has a current ratio of 1.23, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a 12 month low of $81.87 and a 12 month high of $139.44. The company has a market cap of $62.13 billion, a price-to-earnings ratio of 30.30 and a beta of 0.45.

Imperial Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Thursday, June 4th were given a $0.87 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $3.48 dividend on an annualized basis and a yield of 2.7%. Imperial Oil’s payout ratio is 38.24%.

Imperial Oil 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.