Pictet Asset Management Holding SA Sells 19,207 Shares of Imperial Oil Limited $IMO

Pictet Asset Management Holding SA trimmed its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 17.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,129 shares of the energy company’s stock after selling 19,207 shares during the period. Pictet Asset Management Holding SA’s holdings in Imperial Oil were worth $11,764,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Imperial Oil by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 34,218 shares of the energy company’s stock worth $2,475,000 after buying an additional 1,627 shares during the period. NewEdge Advisors LLC lifted its position in Imperial Oil by 54.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,887 shares of the energy company’s stock valued at $860,000 after acquiring an additional 4,201 shares during the period. Focus Partners Wealth purchased a new position in Imperial Oil during the 1st quarter valued at about $200,000. Cetera Investment Advisers boosted its stake in Imperial Oil by 6.8% during the second quarter. Cetera Investment Advisers now owns 4,569 shares of the energy company’s stock worth $363,000 after acquiring an additional 291 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Imperial Oil by 4.7% during the second quarter. Invesco Ltd. now owns 354,865 shares of the energy company’s stock worth $28,205,000 after acquiring an additional 15,834 shares in the last quarter. Institutional investors own 20.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IMO shares. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research note on Wednesday, May 13th. Zacks Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Imperial Capital restated a “sell” rating on shares of Imperial Oil in a research note on Tuesday, June 23rd. Finally, Scotiabank raised Imperial Oil to a “hold” rating in a research report on Friday, June 26th. Five investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Imperial Oil presently has a consensus rating of “Reduce” and an average price target of $116.00.

Imperial Oil Stock Up 2.5%

Shares of Imperial Oil stock opened at $113.77 on Friday. The company has a 50-day simple moving average of $123.90 and a two-hundred day simple moving average of $115.31. The stock has a market capitalization of $55.02 billion, a PE ratio of 26.83 and a beta of 0.45. Imperial Oil Limited has a 52-week low of $78.87 and a 52-week high of $139.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.23.

Imperial Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Thursday, June 4th were given a $0.87 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $3.48 annualized dividend and a yield of 3.1%. Imperial Oil’s dividend payout ratio is 38.24%.

About Imperial Oil

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.