Checchi Capital Advisers LLC Trims Stake in Imperial Oil Limited $IMO

Checchi Capital Advisers LLC lowered its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 7.9% during the second quarter, Holdings Channel.com reports. The firm owned 3,083 shares of the energy company’s stock after selling 265 shares during the period. Checchi Capital Advisers LLC’s holdings in Imperial Oil were worth $245,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IMO. Wealth Enhancement Advisory Services LLC raised its position in Imperial Oil by 27.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,833 shares of the energy company’s stock valued at $606,000 after purchasing an additional 2,125 shares during the period. GAMMA Investing LLC raised its holdings in shares of Imperial Oil by 7,136.4% in the 1st quarter. GAMMA Investing LLC now owns 796 shares of the energy company’s stock valued at $580,000 after buying an additional 785 shares during the period. Yousif Capital Management LLC purchased a new stake in shares of Imperial Oil in the 1st quarter valued at $226,000. Assenagon Asset Management S.A. raised its holdings in shares of Imperial Oil by 1.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 34,851 shares of the energy company’s stock valued at $2,517,000 after buying an additional 499 shares during the period. Finally, Azzad Asset Management Inc. ADV purchased a new stake in shares of Imperial Oil in the 1st quarter valued at $5,095,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Analyst Upgrades and Downgrades

IMO has been the topic of several research analyst reports. Zacks Research downgraded Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 23rd. Raymond James Financial downgraded Imperial Oil from a “moderate buy” rating to a “hold” rating in a report on Thursday, July 3rd. Tudor Pickering downgraded Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Imperial Oil in a report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $115.00.

Imperial Oil Price Performance

Shares of NYSEAMERICAN IMO opened at $90.75 on Wednesday. The stock’s 50-day moving average is $88.49 and its two-hundred day moving average is $78.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.34. Imperial Oil Limited has a 1-year low of $58.76 and a 1-year high of $96.09. The company has a market cap of $45.55 billion, a price-to-earnings ratio of 13.98 and a beta of 0.83.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Thursday, September 4th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.52. Imperial Oil’s payout ratio is currently 31.87%.

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.