Northwest & Ethical Investments L.P. Decreases Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Northwest & Ethical Investments L.P. reduced its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 200,069 shares of the energy company’s stock after selling 7,824 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Imperial Oil were worth $12,308,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its stake in Imperial Oil by 3.7% during the 3rd quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock worth $2,598,604,000 after buying an additional 1,331,235 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings 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 during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Imperial Oil by 9.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,107,250 shares of the energy company’s stock worth $148,235,000 after acquiring an additional 187,158 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Imperial Oil by 9.1% in the 3rd 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 period. Finally, National Bank of Canada FI raised its position in Imperial Oil by 13.3% in the 3rd quarter. National Bank of Canada FI now owns 751,038 shares of the energy company’s stock valued at $52,885,000 after purchasing an additional 87,914 shares during the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

Wall Street Analyst Weigh In

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

Imperial Oil Stock Up 1.8 %

Shares of IMO stock opened at $70.32 on Thursday. The stock has a market capitalization of $35.80 billion, a PE ratio of 10.67 and a beta of 1.44. 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 Limited has a fifty-two week low of $60.95 and a fifty-two week high of $80.17. The firm has a fifty day moving average price of $68.06.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.4972 per share. This represents a $1.99 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Wednesday, March 5th. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. Imperial Oil’s dividend payout ratio is 25.80%.

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.