BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 802,758 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 92.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,416 shares of the energy company's stock after selling 802,758 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Imperial Oil were worth $4,531,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC purchased a new position in Imperial Oil during the second quarter worth about $3,064,000. Fiera Capital Corp grew its position in Imperial Oil by 262.5% during the second quarter. Fiera Capital Corp now owns 95,455 shares of the energy company's stock worth $6,511,000 after buying an additional 69,121 shares in the last quarter. Bridgewater Associates LP grew its position in Imperial Oil by 522.8% during the third quarter. Bridgewater Associates LP now owns 201,126 shares of the energy company's stock worth $14,166,000 after buying an additional 168,831 shares in the last quarter. Ritholtz Wealth Management grew its position in Imperial Oil by 17.4% during the third quarter. Ritholtz Wealth Management now owns 59,726 shares of the energy company's stock worth $4,208,000 after buying an additional 8,858 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Imperial Oil by 855.2% during the third quarter. Assenagon Asset Management S.A. now owns 35,981 shares of the energy company's stock worth $2,534,000 after buying an additional 32,214 shares in the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Stock Down 1.3 %

NYSEAMERICAN:IMO traded down $0.97 during mid-day trading on Tuesday, reaching $72.85. 492,282 shares of the company's stock traded hands, compared to its average volume of 411,189. Imperial Oil Limited has a 12-month low of $52.97 and a 12-month high of $80.17. The company has a market cap of $37.73 billion, a PE ratio of 10.86 and a beta of 1.42. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.23.

Imperial Oil Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.4304 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.36%. Imperial Oil's dividend payout ratio (DPR) is 26.53%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on IMO shares. Scotiabank reaffirmed a "sector perform" rating and set a $110.00 price target on shares of Imperial Oil in a research note on Wednesday, September 25th. StockNews.com lowered Imperial Oil from a "buy" rating to a "hold" rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Imperial Oil has an average rating of "Hold" and an average 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.