Peapack Gladstone Financial Corp Reduces Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Peapack Gladstone Financial Corp trimmed its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,353 shares of the energy company’s stock after selling 600 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Imperial Oil were worth $207,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Winch Advisory Services LLC bought a new position in shares of Imperial Oil during the fourth quarter valued at approximately $26,000. BNP Paribas Financial Markets bought a new position in shares of Imperial Oil during the third quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Imperial Oil during the fourth quarter worth approximately $41,000. Allworth Financial LP boosted its position in shares of Imperial Oil by 21.0% during the fourth quarter. Allworth Financial LP now owns 1,630 shares of the energy company’s stock worth $100,000 after buying an additional 283 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Imperial Oil during the third quarter worth approximately $137,000. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Trading Up 7.3 %

Shares of NYSEAMERICAN:IMO opened at $64.61 on Thursday. The stock has a market capitalization of $32.89 billion, a PE ratio of 9.80 and a beta of 1.44. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $80.17. The firm has a fifty day moving average price of $68.77 and a 200 day moving average price of $70.12. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.4972 per share. This represents a $1.99 dividend on an annualized basis and a yield of 3.08%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 5th. Imperial Oil’s dividend payout ratio is 25.80%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $101.00 target price on shares of Imperial Oil in a research report on Thursday, April 3rd. The Goldman Sachs Group downgraded Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Scotiabank raised shares of Imperial Oil to a “hold” rating in a research note on Wednesday, March 19th. Finally, Raymond James raised shares of Imperial Oil from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $106.33.

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.