Plancorp LLC Sells 17,392 Shares of Imperial Oil Limited $IMO

Key Points

• Plancorp LLC reduced its stake in Imperial Oil Limited by 38.3%, selling 17,392 shares and owning 28,061 shares worth $2.23 million at the end of the quarter.
• Imperial Oil has recently increased its quarterly dividend to $0.72 per share, up from the prior $0.52, which translates to a 3.1% yield.
• Wall Street analysts have varied opinions on Imperial Oil, with ratings ranging from strong buy to strong sell, resulting in a consensus rating of "Hold" and an average price target of $101.00.

Plancorp LLC decreased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 38.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,061 shares of the energy company's stock after selling 17,392 shares during the period. Plancorp LLC's holdings in Imperial Oil were worth $2,230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Yousif Capital Management LLC bought a new stake in Imperial Oil during the 1st quarter worth approximately $226,000. Bessemer Group Inc. raised its stake in Imperial Oil by 198.9% during the 1st quarter. Bessemer Group Inc. now owns 23,690 shares of the energy company's stock worth $1,713,000 after acquiring an additional 15,765 shares during the period. Amundi raised its stake in Imperial Oil by 0.5% during the 1st quarter. Amundi now owns 617,706 shares of the energy company's stock worth $42,368,000 after acquiring an additional 3,275 shares during the period. Northern Trust Corp raised its position in shares of Imperial Oil by 2.0% during the first quarter. Northern Trust Corp now owns 199,021 shares of the energy company's stock valued at $14,393,000 after buying an additional 3,889 shares during the last quarter. Finally, LPL Financial LLC raised its position in shares of Imperial Oil by 68.6% during the first quarter. LPL Financial LLC now owns 79,692 shares of the energy company's stock valued at $5,763,000 after buying an additional 32,437 shares during the last quarter. Institutional investors own 20.74% of the company's stock.

Imperial Oil Trading Up 0.3%

IMO stock opened at $93.94 on Thursday. The firm has a fifty day moving average price of $87.12 and a 200 day moving average price of $77.40. Imperial Oil Limited has a fifty-two week low of $58.76 and a fifty-two week high of $96.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.58. The firm has a market cap of $47.15 billion, a PE ratio of 14.47 and a beta of 0.94.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from Imperial Oil's previous quarterly dividend of $0.52. This represents a $2.88 annualized dividend and a yield of 3.1%. Imperial Oil's payout ratio is presently 31.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IMO shares. Zacks Research upgraded shares of Imperial Oil from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. BMO Capital Markets reiterated an "outperform" rating on shares of Imperial Oil in a research report on Monday, August 4th. Tudor Pickering cut shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Desjardins cut shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Finally, Raymond James Financial cut shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $101.00.

About Imperial Oil

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.

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