Imperial Oil Limited $IMO Position Reduced by Guardian Partners Inc.

Guardian Partners Inc. trimmed its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 3.9% during the third quarter, Holdings Channel reports. The firm owned 135,525 shares of the energy company’s stock after selling 5,459 shares during the period. Imperial Oil comprises 1.5% of Guardian Partners Inc.’s holdings, making the stock its 17th biggest holding. Guardian Partners Inc.’s holdings in Imperial Oil were worth $16,705,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Sawyer & Company Inc bought a new stake in shares of Imperial Oil in the 3rd quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Imperial Oil by 1,446.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 727 shares of the energy company’s stock worth $63,000 after buying an additional 680 shares in the last quarter. SHP Wealth Management bought a new position in shares of Imperial Oil during the 4th quarter worth approximately $75,000. CoreCap Advisors LLC lifted its position in shares of Imperial Oil by 20.5% during the 2nd quarter. CoreCap Advisors LLC now owns 954 shares of the energy company’s stock worth $107,000 after buying an additional 162 shares during the period. Finally, Eastern Bank lifted its position in shares of Imperial Oil by 100.0% during the 2nd quarter. Eastern Bank now owns 1,000 shares of the energy company’s stock worth $112,000 after buying an additional 500 shares during the period. 20.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on IMO shares. Imperial Capital reaffirmed a “sell” rating on shares of Imperial Oil in a research note on Tuesday, June 23rd. TD Securities reissued a “sell” rating on shares of Imperial Oil in a report on Wednesday, August 5th. Desjardins upgraded shares of Imperial Oil to a “hold” rating in a research note on Thursday, July 16th. Zacks Research upgraded shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Finally, UBS Group reaffirmed a “buy” rating on shares of Imperial Oil in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $116.00.

Imperial Oil Price Performance

Shares of NYSEAMERICAN:IMO traded up $0.00 during trading on Wednesday, reaching $134.99. The stock had a trading volume of 150,417 shares, compared to its average volume of 642,046. Imperial Oil Limited has a 52 week low of $83.27 and a 52 week high of $139.44. The business’s 50-day moving average price is $129.56 and its 200 day moving average price is $126.27. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.38 and a quick ratio of 1.19. The stock has a market capitalization of $63.72 billion, a PE ratio of 21.92 and a beta of 0.57.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last announced its earnings results on Friday, July 31st. The energy company reported $4.52 EPS for the quarter, topping the consensus estimate of $2.99 by $1.53. The business had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $10.92 billion. Imperial Oil had a return on equity of 22.28% and a net margin of 8.03%. Imperial Oil’s revenue was up 43.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.86 EPS. As a group, equities analysts predict that Imperial Oil Limited will post 11.08 earnings per share for the current year.

Imperial Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 4th were paid a C$0.87 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $3.48 dividend on an annualized basis and a yield of 2.6%. Imperial Oil’s payout ratio is currently 38.09%.

Imperial Oil Profile

Imperial Oil Limited is an integrated Canadian energy company headquartered in Calgary, Alberta. Founded in 1880, the company explores for, produces, transports, refines and markets crude oil and natural gas, serving customers primarily in Canada. Imperial is one of the country’s largest petroleum companies and has a long-standing relationship with Exxon Mobil Corporation, which is its majority shareholder.

Imperial’s upstream operations include oil sands production at the Kearl and Cold Lake projects in Alberta, as well as a significant interest in the Syncrude oil sands mining and upgrading operation.