Pictet Asset Management Holding SA Sells 19,207 Shares of Imperial Oil Limited $IMO

Pictet Asset Management Holding SA decreased its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 17.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,129 shares of the energy company’s stock after selling 19,207 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Imperial Oil were worth $11,764,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of IMO. Root Financial Partners LLC boosted its holdings in shares of Imperial Oil by 87.8% during the 4th quarter. Root Financial Partners LLC now owns 293 shares of the energy company’s stock valued at $25,000 after acquiring an additional 137 shares during the last quarter. McMillan Office Inc. purchased a new position in shares of Imperial Oil during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its position in Imperial Oil by 23.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 531 shares of the energy company’s stock valued at $46,000 after purchasing an additional 101 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Imperial Oil by 737.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company’s stock valued at $46,000 after purchasing an additional 450 shares during the period. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Imperial Oil in the third quarter worth approximately $54,000. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

NYSEAMERICAN IMO opened at $113.77 on Friday. Imperial Oil Limited has a 12 month low of $78.87 and a 12 month high of $139.44. The stock has a market cap of $55.02 billion, a price-to-earnings ratio of 26.83 and a beta of 0.45. The company’s 50 day moving average is $123.90 and its two-hundred day moving average is $115.31. The company has a current ratio of 1.23, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17.

Imperial Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Thursday, June 4th were paid a $0.87 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.1%. Imperial Oil’s dividend payout ratio is 38.24%.

Wall Street Analyst Weigh In

IMO has been the subject of several research analyst reports. Imperial Capital reaffirmed a “sell” rating on shares of Imperial Oil in a report on Tuesday, June 23rd. TD Securities restated a “sell” rating on shares of Imperial Oil in a research note on Wednesday, May 13th. Zacks Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, Scotiabank upgraded Imperial Oil to a “hold” rating in a research report on Friday, June 26th. Five investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $116.00.

Imperial Oil Profile

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.