Envestnet Asset Management Inc. Reduces Stake in Imperial Oil Ltd (IMO)

Envestnet Asset Management Inc. decreased its position in Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) by 7.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,315 shares of the company’s stock after selling 1,034 shares during the period. Envestnet Asset Management Inc.’s holdings in Imperial Oil were worth $463,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of IMO. Creative Planning boosted its stake in Imperial Oil by 21.8% in the third quarter. Creative Planning now owns 5,514 shares of the company’s stock worth $173,000 after buying an additional 988 shares during the last quarter. Wetherby Asset Management Inc. bought a new stake in Imperial Oil during the fourth quarter worth $238,000. Van ECK Associates Corp boosted its stake in Imperial Oil by 176.8% in the fourth quarter. Van ECK Associates Corp now owns 7,919 shares of the company’s stock worth $275,000 after buying an additional 5,058 shares during the last quarter. Searle & CO. bought a new stake in Imperial Oil during the third quarter worth $313,000. Finally, Lombard Odier Asset Management Europe Ltd bought a new stake in Imperial Oil during the third quarter worth $348,000.

Institutional Ownership by Quarter for Imperial Oil (NYSEMKT:IMO)

Imperial Oil Ltd (NYSEMKT:IMO) opened at 30.75 on Tuesday. Imperial Oil Ltd has a one year low of $29.26 and a one year high of $36.85. The stock’s 50 day moving average is $31.83 and its 200 day moving average is $32.70. The firm has a market cap of $26.06 billion, a price-to-earnings ratio of 16.27 and a beta of 1.14.

Imperial Oil (NYSEMKT:IMO) last posted its quarterly earnings data on Tuesday, January 31st. The company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.11. The company had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.66 billion. The business’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 EPS. On average, analysts predict that Imperial Oil Ltd will post $1.79 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 3rd will be given a dividend of $0.1146 per share. The ex-dividend date is Wednesday, March 1st. This represents a $0.46 annualized dividend and a dividend yield of 1.49%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.11. Imperial Oil’s dividend payout ratio (DPR) is 170.37%.

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Several brokerages recently weighed in on IMO. TheStreet raised shares of Imperial Oil from a “c” rating to a “b-” rating in a research note on Tuesday, January 31st. Zacks Investment Research raised shares of Imperial Oil from a “hold” rating to a “strong-buy” rating and set a $41.00 price objective on the stock in a research note on Monday, December 12th. TD Securities cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Thursday, January 5th. Citigroup Inc cut shares of Imperial Oil to a “market perform” rating in a research note on Tuesday, January 3rd. They noted that the move was a valuation call. Finally, Canaccord Genuity reissued a “hold” rating and issued a $45.00 price objective on shares of Imperial Oil in a research note on Saturday, March 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $44.70.

About Imperial Oil

Imperial Oil Ltd is a Canada-based integrated oil company. The Company is engaged in the exploration for, and production and sale of, crude oil and natural gas. The Company’s operations are conducted in three segments: Upstream, Downstream and Chemical. Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.

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