Ritholtz Wealth Management Reduces Stock Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Ritholtz Wealth Management cut its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 4.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 57,289 shares of the energy company’s stock after selling 2,437 shares during the quarter. Ritholtz Wealth Management’s holdings in Imperial Oil were worth $3,529,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Envestnet Asset Management Inc. grew its position in Imperial Oil by 0.5% in the second quarter. Envestnet Asset Management Inc. now owns 57,238 shares of the energy company’s stock worth $3,906,000 after acquiring an additional 304 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Imperial Oil by 5.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 3,266 shares of the energy company’s stock worth $223,000 after acquiring an additional 158 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in Imperial Oil by 19.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,633 shares of the energy company’s stock worth $862,000 after acquiring an additional 2,047 shares during the period. XTX Topco Ltd purchased a new position in Imperial Oil in the second quarter worth approximately $480,000. Finally, Bridges Investment Management Inc. purchased a new position in Imperial Oil in the second quarter worth approximately $253,000. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on IMO. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. Finally, Scotiabank restated a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $109.00.

Imperial Oil Trading Up 0.5 %

Shares of NYSEAMERICAN IMO opened at $68.65 on Friday. The firm has a market capitalization of $35.19 billion, a PE ratio of 9.96 and a beta of 1.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44. Imperial Oil Limited has a 12-month low of $54.58 and a 12-month high of $80.17.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd were paid a $0.4304 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Tuesday, December 3rd. Imperial Oil’s payout ratio is currently 25.34%.

Imperial Oil Profile

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.