US Bancorp DE Has $1.34 Million Stock Holdings in Imperial Oil Limited $IMO

Key Points

• US Bancorp DE reduced its stake in Imperial Oil Limited by 16.2%, holding shares worth $1.34 million after selling 3,262 shares during the second quarter.
• Wall Street analysts have mixed views on Imperial Oil, with ratings ranging from Buy to Strong Sell, resulting in a consensus rating of "Reduce."
• Imperial Oil recently increased its quarterly dividend from $0.52 to $0.72 per share, resulting in a 3.4% dividend yield.

US Bancorp DE cut its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 16.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,858 shares of the energy company's stock after selling 3,262 shares during the period. US Bancorp DE's holdings in Imperial Oil were worth $1,340,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in Imperial Oil during the first quarter valued at $26,000. Northwestern Mutual Wealth Management Co. raised its position in Imperial Oil by 88.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company's stock valued at $39,000 after buying an additional 255 shares during the period. GAMMA Investing LLC raised its position in Imperial Oil by 7,136.4% during the first quarter. GAMMA Investing LLC now owns 796 shares of the energy company's stock valued at $580,000 after buying an additional 785 shares during the period. Continuum Advisory LLC acquired a new position in Imperial Oil during the first quarter valued at $71,000. Finally, Banque Transatlantique SA acquired a new position in Imperial Oil during the first quarter valued at $87,000. 20.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IMO has been the topic of several recent analyst reports. BMO Capital Markets reissued an "outperform" rating on shares of Imperial Oil in a research report on Monday, August 4th. Zacks Research lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 3rd. Cibc World Mkts lowered Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday. Wolfe Research downgraded Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 23rd. Finally, Raymond James Financial downgraded Imperial Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 3rd. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Imperial Oil presently has a consensus rating of "Reduce" and an average target price of $115.00.

Imperial Oil Stock Performance

Shares of NYSEAMERICAN IMO opened at $84.68 on Friday. The business's 50-day moving average price is $88.90 and its two-hundred day moving average price is $79.53. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.34. Imperial Oil Limited has a one year low of $58.76 and a one year high of $96.09. The company has a market capitalization of $42.50 billion, a P/E ratio of 13.05 and a beta of 0.83.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Thursday, September 4th were paid a dividend of $0.72 per share. This is a boost from Imperial Oil's previous quarterly dividend of $0.52. The ex-dividend date was Thursday, September 4th. This represents a $2.88 annualized dividend and a dividend yield of 3.4%. Imperial Oil's dividend payout ratio is currently 31.87%.

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.

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