Investment Management Corp of Ontario Sells 400 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Investment Management Corp of Ontario decreased its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,466 shares of the energy company’s stock after selling 400 shares during the quarter. Investment Management Corp of Ontario’s holdings in Imperial Oil were worth $1,583,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC increased its position in Imperial Oil by 3.7% during the 3rd quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock valued at $2,598,604,000 after purchasing an additional 1,331,235 shares during the period. The Manufacturers Life Insurance Company increased its position in Imperial Oil by 8.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company’s stock valued at $311,175,000 after purchasing an additional 341,689 shares during the period. TD Asset Management Inc increased its position in Imperial Oil by 12.2% during the 2nd quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock valued at $258,817,000 after purchasing an additional 412,600 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Imperial Oil by 9.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,107,250 shares of the energy company’s stock valued at $148,235,000 after purchasing an additional 187,158 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Imperial Oil by 10,896.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock worth $59,135,000 after buying an additional 859,288 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Trading Down 2.1 %

IMO opened at $71.27 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a 1 year low of $52.97 and a 1 year high of $80.17. The firm has a market capitalization of $36.91 billion, a P/E ratio of 10.62 and a beta of 1.42.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.4304 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Tuesday, December 3rd. Imperial Oil’s dividend payout ratio is presently 26.53%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Scotiabank reaffirmed a “sector perform” rating and issued a $110.00 price objective on shares of Imperial Oil in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $109.00.

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.