CoreCap Advisors LLC Sells 980 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

CoreCap Advisors LLC reduced its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 36.4% during the fourth quarter, Holdings Channel reports. The firm owned 1,711 shares of the energy company’s stock after selling 980 shares during the period. CoreCap Advisors LLC’s holdings in Imperial Oil were worth $105,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in IMO. Mediolanum International Funds Ltd raised its position in Imperial Oil by 42.8% in the fourth quarter. Mediolanum International Funds Ltd now owns 14,364 shares of the energy company’s stock worth $874,000 after acquiring an additional 4,308 shares during the period. JPMorgan Chase & Co. raised its position in Imperial Oil by 29.0% in the fourth quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company’s stock worth $58,212,000 after acquiring an additional 212,707 shares during the period. Stevens Capital Management LP bought a new stake in Imperial Oil in the fourth quarter worth about $258,000. Envestnet Asset Management Inc. raised its position in Imperial Oil by 8.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 63,193 shares of the energy company’s stock worth $3,893,000 after acquiring an additional 5,181 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Imperial Oil in the fourth quarter worth about $7,982,000. 20.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

IMO has been the subject of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 target price on shares of Imperial Oil in a research note on Thursday, April 3rd. Wolfe Research upgraded shares of Imperial Oil from a “peer perform” rating to an “outperform” rating in a research note on Monday, April 21st. Scotiabank upgraded shares of Imperial Oil to a “hold” rating in a research note on Wednesday, March 19th. Raymond James reiterated an “outperform” rating on shares of Imperial Oil in a research note on Monday, May 5th. Finally, The Goldman Sachs Group downgraded shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $106.33.

Imperial Oil Price Performance

Shares of NYSEAMERICAN:IMO opened at $73.60 on Wednesday. The company has a 50 day moving average of $67.72 and a 200 day moving average of $69.76. The stock has a market cap of $37.47 billion, a P/E ratio of 11.17 and a beta of 1.44. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $80.17. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th will be paid a dividend of $0.523 per share. The ex-dividend date is Wednesday, June 4th. This represents a $2.09 annualized dividend and a yield of 2.84%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.50. Imperial Oil’s payout ratio is currently 25.80%.

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.