Generali Asset Management SPA SGR Cuts Stock Holdings in Imperial Oil Limited $IMO

Generali Asset Management SPA SGR reduced its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 52.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,746 shares of the energy company’s stock after selling 11,833 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Imperial Oil were worth $975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of IMO. IMG Wealth Management Inc. bought a new stake in shares of Imperial Oil during the 2nd quarter worth $28,000. MAI Capital Management grew its position in Imperial Oil by 2,275.0% during the 2nd quarter. MAI Capital Management now owns 380 shares of the energy company’s stock worth $30,000 after acquiring an additional 364 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 purchasing an additional 255 shares during the period. Ascent Group LLC purchased a new position in shares of Imperial Oil in the third quarter worth $209,000. Finally, Mirador Capital Partners LP bought a new stake in Imperial Oil during the 3rd quarter valued at $211,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Performance

Shares of Imperial Oil stock opened at $89.09 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.17. The stock has a market cap of $43.36 billion, a price-to-earnings ratio of 16.05 and a beta of 0.70. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $101.01. The firm’s 50-day moving average is $91.98 and its 200 day moving average is $88.23.

Imperial Oil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Wednesday, December 3rd were paid a $0.72 dividend. The ex-dividend date was Wednesday, December 3rd. This represents a $2.88 annualized dividend and a dividend yield of 3.2%. Imperial Oil’s payout ratio is currently 31.26%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IMO. BMO Capital Markets cut shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Cibc World Mkts cut Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Imperial Oil in a research note on Wednesday, November 5th. Zacks Research lowered Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, Raymond James Financial downgraded shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Monday, December 8th. Six research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, Imperial Oil presently has an average rating of “Reduce” and a consensus price target of $115.00.

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.