QV Investors Inc. Cuts Position in Imperial Oil Limited $IMO

Key Points

• QV Investors trimmed its stake in Imperial Oil by 7.2% in Q4, selling 15,733 shares and now holds 203,607 shares worth $17.61 million, representing 1.4% of its portfolio and its 24th largest holding.
• Imperial Oil raised its quarterly dividend to $0.87 from $0.72 (annualized $3.48), implying a 2.7% yield and a 38.7% payout ratio.
• Wall Street has a consensus rating of "Reduce" with a $116 price target while IMO trades around $130.53, with a market cap of about $63.1 billion and a P/E of 28.5 (1-year range $58.76–$133.37).

QV Investors Inc. decreased its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 203,607 shares of the energy company's stock after selling 15,733 shares during the period. Imperial Oil makes up 1.4% of QV Investors Inc.'s investment portfolio, making the stock its 24th largest holding. QV Investors Inc.'s holdings in Imperial Oil were worth $17,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in IMO. J. Safra Sarasin Holding AG purchased a new position in Imperial Oil in the fourth quarter valued at about $2,301,000. Klein Pavlis & Peasley Financial Inc. boosted its stake in shares of Imperial Oil by 12.4% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 9,869 shares of the energy company's stock worth $852,000 after acquiring an additional 1,088 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in shares of Imperial Oil by 2.9% in the 4th quarter. Kathmere Capital Management LLC now owns 6,563 shares of the energy company's stock worth $566,000 after acquiring an additional 186 shares during the period. Assenagon Asset Management S.A. increased its stake in Imperial Oil by 2.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 36,569 shares of the energy company's stock valued at $3,163,000 after purchasing an additional 949 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Imperial Oil by 8.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,215 shares of the energy company's stock valued at $807,000 after purchasing an additional 680 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company's stock.

Imperial Oil Price Performance

IMO stock opened at $130.53 on Friday. The stock's 50 day moving average price is $118.86 and its 200 day moving average price is $101.25. The firm has a market cap of $63.12 billion, a P/E ratio of 28.50 and a beta of 0.58. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.94 and a current ratio of 1.27. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $133.37.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $3.48 annualized dividend and a dividend yield of 2.7%. This is an increase from Imperial Oil's previous quarterly dividend of $0.72. Imperial Oil's dividend payout ratio is 38.69%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IMO shares. BMO Capital Markets cut Imperial Oil from an "outperform" rating to a "market perform" rating in a report on Monday, December 15th. Royal Bank Of Canada cut Imperial Oil from a "sector perform" rating to an "underperform" rating and set a $116.00 price target for the company. in a research report on Monday, February 23rd. Zacks Research raised Imperial Oil from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 24th. Raymond James Financial lowered shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Monday, December 8th. Finally, TD Securities reissued a "sell" rating on shares of Imperial Oil in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Imperial Oil has a consensus rating of "Reduce" and a consensus price target of $116.00.

Imperial Oil Company Profile

Imperial Oil NYSEAMERICAN: IMO is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country's long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial's operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.

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