Imperial Oil Limited (NYSEAMERICAN:IMO) Position Decreased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 200,510 shares of the energy company’s stock after selling 3,124 shares during the period. PNC Financial Services Group Inc.’s holdings in Imperial Oil were worth $11,467,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. NewEdge Wealth LLC boosted its holdings in shares of Imperial Oil by 67.0% in the fourth quarter. NewEdge Wealth LLC now owns 29,218 shares of the energy company’s stock worth $1,671,000 after buying an additional 11,717 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Imperial Oil by 137.6% in the fourth 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 during the period. Seven Eight Capital LP acquired a new position in shares of Imperial Oil in the third quarter worth about $269,000. Quadrature Capital Ltd acquired a new position in shares of Imperial Oil in the fourth quarter worth about $5,124,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Imperial Oil by 44.0% in the third quarter. Envestnet Asset Management Inc. now owns 95,817 shares of the energy company’s stock worth $5,901,000 after buying an additional 29,258 shares during the period. Institutional investors own 20.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on IMO. Raymond James upgraded shares of Imperial Oil to a “hold” rating in a report on Tuesday, May 28th. StockNews.com cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.33.

Imperial Oil Stock Performance

IMO stock opened at $65.47 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. The company has a market cap of $35.08 billion, a P/E ratio of 10.26 and a beta of 1.45. Imperial Oil Limited has a 52 week low of $47.90 and a 52 week high of $74.58.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings data on Friday, April 26th. The energy company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.10. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $11.61 billion. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. On average, sell-side analysts forecast that Imperial Oil Limited will post 6.18 earnings per share for the current year.

Imperial Oil Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.4377 per share. This represents a $1.75 annualized dividend and a yield of 2.67%. The ex-dividend date is Monday, June 3rd. Imperial Oil’s payout ratio is presently 27.59%.

About Imperial Oil

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.