Commonwealth Equity Services LLC Sells 1,112 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Commonwealth Equity Services LLC trimmed its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 5.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,957 shares of the energy company’s stock after selling 1,112 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Imperial Oil were worth $1,226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. RFP Financial Group LLC acquired a new position in Imperial Oil in the 2nd quarter valued at approximately $25,000. Hexagon Capital Partners LLC raised its stake in shares of Imperial Oil by 84.0% in the first quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock valued at $34,000 after purchasing an additional 225 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Imperial Oil in the fourth quarter valued at $44,000. Assetmark Inc. lifted its position in Imperial Oil by 938.5% in the fourth quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock worth $46,000 after purchasing an additional 732 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Imperial Oil during the first quarter worth $46,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Stock Up 0.5 %

NYSEAMERICAN:IMO opened at $66.28 on Monday. The firm has a market cap of $35.03 billion, a price-to-earnings ratio of 10.39 and a beta of 1.45. Imperial Oil Limited has a 52-week low of $52.97 and a 52-week high of $77.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.40.

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

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.4336 per share. This represents a $1.73 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Wednesday, September 4th. Imperial Oil’s dividend payout ratio is presently 27.90%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IMO. Wolfe Research assumed coverage on shares of Imperial Oil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $108.00 price objective for the company. Scotiabank cut their price target 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. Raymond James raised Imperial Oil to a “hold” rating in a report on Tuesday, May 28th. Finally, StockNews.com cut Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Imperial Oil presently has a consensus rating of “Hold” and a consensus price target of $99.50.

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.