Genus Capital Management Inc. Cuts Position in Imperial Oil Limited $IMO

Genus Capital Management Inc. lessened its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 63.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,992 shares of the energy company’s stock after selling 40,465 shares during the quarter. Genus Capital Management Inc.’s holdings in Imperial Oil were worth $1,989,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. increased its holdings in Imperial Oil by 178.5% during the 4th quarter. Jefferies Financial Group Inc. now owns 35,331 shares of the energy company’s stock valued at $3,054,000 after acquiring an additional 22,644 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Imperial Oil during the fourth quarter worth about $497,000. HighTower Advisors LLC grew its holdings in shares of Imperial Oil by 30.6% during the fourth quarter. HighTower Advisors LLC now owns 4,220 shares of the energy company’s stock worth $364,000 after buying an additional 989 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Imperial Oil by 8,914.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 46,066 shares of the energy company’s stock worth $3,976,000 after buying an additional 45,555 shares in the last quarter. Finally, Continuum Wealth Advisors LLC purchased a new stake in shares of Imperial Oil during the fourth quarter worth about $255,000. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Price Performance

IMO opened at $133.19 on Monday. The company’s 50 day simple moving average is $128.74 and its 200 day simple moving average is $110.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.23. Imperial Oil Limited has a 1 year low of $70.61 and a 1 year high of $139.44. The stock has a market capitalization of $64.41 billion, a PE ratio of 31.41 and a beta of 0.48.

Imperial Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 4th will be given a $0.87 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $3.48 annualized dividend and a dividend yield of 2.6%. Imperial Oil’s dividend payout ratio (DPR) is currently 38.69%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. Royal Bank Of Canada downgraded shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price target for the company. in a report on Monday, February 23rd. Finally, TD Securities reiterated a “sell” rating on shares of Imperial Oil in a report on Wednesday, May 13th. One investment 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.com, the stock has an average rating of “Reduce” and an average target price of $116.00.

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.