Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC trimmed its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,139 shares of the energy company’s stock after selling 680 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Imperial Oil were worth $555,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of IMO. Manning & Napier Advisors LLC acquired a new position in shares of Imperial Oil in the second quarter worth $3,064,000. US Bancorp DE boosted its holdings in shares of Imperial Oil by 91.6% during the first quarter. US Bancorp DE now owns 20,210 shares of the energy company’s stock worth $1,397,000 after purchasing an additional 9,660 shares during the last quarter. Intech Investment Management LLC purchased a new position in Imperial Oil during the first quarter worth about $720,000. Fiera Capital Corp boosted its stake in Imperial Oil by 262.5% in the 2nd quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock worth $6,511,000 after buying an additional 69,121 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in Imperial Oil by 1,250.9% in the first quarter. Bessemer Group Inc. now owns 7,849 shares of the energy company’s stock valued at $542,000 after buying an additional 7,268 shares during the period. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

NYSEAMERICAN:IMO opened at $65.73 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.40 and a quick ratio of 1.16. The stock has a market capitalization of $34.73 billion, a price-to-earnings ratio of 10.30 and a beta of 1.45. Imperial Oil Limited has a 1-year low of $52.97 and a 1-year high of $77.70.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.43 by $0.11. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. The business had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $10.50 billion. On average, research analysts expect that Imperial Oil Limited will post 6.29 EPS for the current year.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.4336 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, September 4th. Imperial Oil’s payout ratio is currently 27.27%.

Analyst Ratings Changes

IMO has been the subject of several research reports. StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Wolfe Research started coverage on shares of Imperial Oil in a research report on Thursday, July 18th. They set an “outperform” rating and a $108.00 price target for the company. Scotiabank cut their price objective on Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, Raymond James raised Imperial Oil to a “hold” rating in a research report on Tuesday, May 28th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $99.50.

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.