Guinness Atkinson Asset Management Inc Decreases Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Guinness Atkinson Asset Management Inc cut its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 13.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,648 shares of the energy company’s stock after selling 847 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Imperial Oil were worth $348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Winch Advisory Services LLC purchased a new position in shares of Imperial Oil in the fourth quarter valued at $26,000. BNP Paribas Financial Markets acquired a new position in Imperial Oil in the 3rd quarter worth $28,000. Grove Bank & Trust boosted its position in Imperial Oil by 438.0% in the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock valued at $38,000 after buying an additional 438 shares during the last quarter. Allworth Financial LP boosted its position in Imperial Oil by 21.0% in the 3rd quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock valued at $95,000 after buying an additional 234 shares during the last quarter. Finally, Oakworth Capital Inc. acquired a new stake in shares of Imperial Oil during the third quarter valued at about $101,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on IMO. Scotiabank reaffirmed a “sector perform” rating and issued a $110.00 price target on shares of Imperial Oil in a report on Wednesday, September 25th. JPMorgan Chase & Co. cut shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. Finally, Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $109.00.

Imperial Oil Price Performance

Imperial Oil stock opened at $68.42 on Monday. The stock has a market cap of $35.07 billion, a price-to-earnings ratio of 10.20 and a beta of 1.45. Imperial Oil Limited has a 52 week low of $54.74 and a 52 week high of $80.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44.

Imperial Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd were issued a $0.4304 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.72 annualized dividend and a dividend yield of 2.52%. Imperial Oil’s dividend payout ratio (DPR) is 25.34%.

About Imperial Oil

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.