Hsbc Holdings PLC Lowers Position in Imperial Oil Limited $IMO

Key Points

• Hsbc Holdings PLC reduced its investment in Imperial Oil Limited by 32.8% during the first quarter, owning 71,362 shares valued at $5.15 million after selling 34,814 shares.
• Several other institutional investors have increased their stakes, with Quantbot Technologies LP's investment rising by 485.9% during the same period.
• Wall Street analysts have downgraded Imperial Oil's stock ratings, with the consensus rating currently at "Reduce" and a target price of $105.50.

Hsbc Holdings PLC lowered its position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 32.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,362 shares of the energy company's stock after selling 34,814 shares during the quarter. Hsbc Holdings PLC's holdings in Imperial Oil were worth $5,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in IMO. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Imperial Oil during the 4th quarter valued at $19,507,000. Mackenzie Financial Corp lifted its stake in shares of Imperial Oil by 54.7% in the 1st quarter. Mackenzie Financial Corp now owns 690,024 shares of the energy company's stock valued at $49,842,000 after acquiring an additional 243,894 shares during the last quarter. Nuveen LLC purchased a new stake in Imperial Oil during the 1st quarter valued at about $13,673,000. Genus Capital Management Inc. grew its position in Imperial Oil by 292.6% during the 1st quarter. Genus Capital Management Inc. now owns 94,512 shares of the energy company's stock worth $6,826,000 after acquiring an additional 143,581 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Imperial Oil by 64.6% in the 4th quarter. Northern Trust Corp now owns 195,132 shares of the energy company's stock worth $12,020,000 after purchasing an additional 76,551 shares during the period. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Stock Performance

NYSEAMERICAN IMO traded up $0.28 on Friday, reaching $90.78. 218,364 shares of the stock were exchanged, compared to its average volume of 339,075. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. Imperial Oil Limited has a one year low of $58.76 and a one year high of $91.17. The firm has a market capitalization of $45.99 billion, a PE ratio of 13.99 and a beta of 0.94. The company's 50-day simple moving average is $83.34 and its two-hundred day simple moving average is $74.41.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 4th will be paid a dividend of $0.72 per share. This is a positive change from Imperial Oil's previous quarterly dividend of $0.52. The ex-dividend date is Thursday, September 4th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. Imperial Oil's dividend payout ratio is presently 31.87%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IMO. Wolfe Research cut shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 23rd. Desjardins cut shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Tudor Pickering lowered shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. BMO Capital Markets restated an "outperform" rating on shares of Imperial Oil in a report on Monday, August 4th. Finally, Raymond James Financial cut Imperial Oil from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $105.50.

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.