Ashton Thomas Private Wealth LLC Sells 25,170 Shares of Imperial Oil Limited $IMO

Ashton Thomas Private Wealth LLC lowered its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 51.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,215 shares of the energy company’s stock after selling 25,170 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Imperial Oil were worth $2,210,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IMO. IFG Advisory LLC lifted its holdings in Imperial Oil by 0.4% in the 2nd quarter. IFG Advisory LLC now owns 32,359 shares of the energy company’s stock worth $2,572,000 after purchasing an additional 136 shares during the last quarter. Gold Investment Management Ltd. raised its position in shares of Imperial Oil by 0.6% in the third quarter. Gold Investment Management Ltd. now owns 28,322 shares of the energy company’s stock valued at $2,568,000 after purchasing an additional 161 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in shares of Imperial Oil by 0.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 21,470 shares of the energy company’s stock valued at $1,949,000 after purchasing an additional 166 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Imperial Oil by 1.5% in the second quarter. NewEdge Advisors LLC now owns 12,071 shares of the energy company’s stock worth $959,000 after buying an additional 184 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Imperial Oil by 9.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,472 shares of the energy company’s stock worth $196,000 after buying an additional 206 shares during the period. Institutional investors and hedge funds own 20.74% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on IMO. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Imperial Oil in a report on Wednesday, November 5th. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research report on Tuesday, November 4th. Raymond James Financial lowered Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Monday, December 8th. BMO Capital Markets cut Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Finally, Cibc World Mkts lowered Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Six equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $115.00.

Imperial Oil Stock Down 2.2%

NYSEAMERICAN IMO opened at $108.32 on Friday. Imperial Oil Limited has a twelve month low of $58.76 and a twelve month high of $111.99. The stock has a market cap of $52.38 billion, a PE ratio of 23.65 and a beta of 0.70. The firm has a 50-day simple moving average of $93.73 and a 200 day simple moving average of $91.05. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.17 and a current ratio of 1.47.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th will be paid a dividend of $0.87 per share. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Thursday, March 5th. Imperial Oil’s dividend payout ratio is presently 31.26%.

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.