Connor Clark & Lunn Investment Management Ltd. Has $112.15 Million Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 13.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,822,039 shares of the energy company’s stock after selling 285,211 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Imperial Oil were worth $112,148,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Winch Advisory Services LLC acquired a new stake in Imperial Oil during the fourth quarter worth approximately $26,000. BNP Paribas Financial Markets acquired a new stake in shares of Imperial Oil during the 3rd quarter worth approximately $28,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Imperial Oil in the 4th quarter valued at $41,000. Allworth Financial LP lifted its position in shares of Imperial Oil by 21.0% during the 4th quarter. Allworth Financial LP now owns 1,630 shares of the energy company’s stock valued at $100,000 after acquiring an additional 283 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Imperial Oil during the third quarter worth $137,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Price Performance

Shares of NYSEAMERICAN IMO opened at $66.40 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.23. Imperial Oil Limited has a 1 year low of $60.95 and a 1 year high of $80.17. The firm has a market capitalization of $33.80 billion, a PE ratio of 10.08 and a beta of 1.44. The firm’s 50-day simple moving average is $67.36.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th will be issued a $0.4972 dividend. This represents a $1.99 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. Imperial Oil’s dividend payout ratio (DPR) is currently 25.80%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IMO. JPMorgan Chase & Co. downgraded Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $109.00.

Imperial Oil Company 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.