Pacer Advisors Inc. Lowers Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Pacer Advisors Inc. trimmed its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 6.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 250,568 shares of the energy company’s stock after selling 16,428 shares during the period. Pacer Advisors Inc.’s holdings in Imperial Oil were worth $17,101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Imperial Oil by 5.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 3,266 shares of the energy company’s stock valued at $223,000 after purchasing an additional 158 shares in the last quarter. CWM LLC raised its position in Imperial Oil by 8.7% in the 2nd quarter. CWM LLC now owns 2,319 shares of the energy company’s stock worth $158,000 after buying an additional 185 shares during the last quarter. OLD National Bancorp IN lifted its stake in Imperial Oil by 5.6% during the 2nd quarter. OLD National Bancorp IN now owns 3,831 shares of the energy company’s stock valued at $261,000 after acquiring an additional 204 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of Imperial Oil by 84.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock valued at $34,000 after acquiring an additional 225 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Imperial Oil by 8.8% in the first quarter. EverSource Wealth Advisors LLC now owns 3,145 shares of the energy company’s stock worth $216,000 after acquiring an additional 255 shares during the period. 20.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Imperial Oil Price Performance

Shares of IMO stock opened at $68.65 on Monday. Imperial Oil Limited has a 1 year low of $52.97 and a 1 year high of $77.70. The company has a quick ratio of 1.16, a current ratio of 1.40 and a debt-to-equity ratio of 0.17. The firm has a market cap of $36.28 billion, a PE ratio of 10.76 and a beta of 1.45.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings data on Friday, August 2nd. The energy company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.11. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. The firm had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $10.50 billion. Sell-side analysts forecast that Imperial Oil Limited will post 6.29 EPS for the current year.

Imperial Oil Cuts Dividend

The firm also recently disclosed 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 2.53%. The ex-dividend date is Wednesday, September 4th. Imperial Oil’s payout ratio is 27.90%.

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.