GQG Partners LLC Decreases Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

GQG Partners LLC lessened its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 62.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 610,594 shares of the energy company’s stock after selling 997,564 shares during the quarter. GQG Partners LLC owned approximately 0.12% of Imperial Oil worth $37,611,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC grew its holdings 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 buying an additional 1,331,235 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Imperial Oil by 8.4% in the third quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company’s stock valued at $311,175,000 after acquiring an additional 341,689 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Imperial Oil by 9.1% during the third quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company’s stock valued at $59,502,000 after acquiring an additional 70,357 shares during the last quarter. National Bank of Canada FI increased its position in Imperial Oil by 13.3% during the 3rd quarter. National Bank of Canada FI now owns 751,038 shares of the energy company’s stock worth $52,885,000 after purchasing an additional 87,914 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Imperial Oil by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 548,554 shares of the energy company’s stock valued at $38,630,000 after purchasing an additional 16,555 shares during the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Stock Up 2.2 %

NYSEAMERICAN IMO opened at $72.79 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34. Imperial Oil Limited has a fifty-two week low of $60.95 and a fifty-two week high of $80.17. The business has a 50 day moving average of $68.66. The stock has a market cap of $37.05 billion, a PE ratio of 11.05 and a beta of 1.44.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th will be paid a $0.4972 dividend. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.99 annualized dividend and a dividend yield of 2.73%. Imperial Oil’s payout ratio is 25.80%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IMO. JPMorgan Chase & Co. downgraded Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. Wolfe Research lowered Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.