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

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 13.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,822,039 shares of the energy company's stock after selling 285,211 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.36% of Imperial Oil worth $112,148,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its position in Imperial Oil by 4.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,916 shares of the energy company's stock valued at $241,000 after purchasing an additional 163 shares during the last quarter. OLD National Bancorp IN grew its holdings in Imperial Oil by 5.0% in the 4th quarter. OLD National Bancorp IN now owns 3,920 shares of the energy company's stock worth $241,000 after buying an additional 187 shares in the last quarter. Allworth Financial LP increased its position in Imperial Oil by 21.0% in 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. Ballentine Partners LLC raised its stake in Imperial Oil by 8.0% during the 4th quarter. Ballentine Partners LLC now owns 3,900 shares of the energy company's stock valued at $240,000 after acquiring an additional 288 shares in the last quarter. Finally, US Bancorp DE raised its stake in Imperial Oil by 1.5% during the 4th quarter. US Bancorp DE now owns 20,408 shares of the energy company's stock valued at $1,257,000 after acquiring an additional 296 shares in the last quarter. 20.74% of the stock is owned by institutional investors.

Remove Ads

Imperial Oil Price Performance

IMO traded down $0.44 during trading on Thursday, reaching $66.62. 326,242 shares of the stock traded hands, compared to its average volume of 431,114. The firm's 50-day moving average price is $67.55. 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 stock has a market cap of $33.91 billion, a PE ratio of 10.11 and a beta of 1.44.

Imperial Oil Increases Dividend

The business also recently disclosed 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 represents a $1.99 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from Imperial Oil's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, March 5th. Imperial Oil's dividend payout ratio (DPR) is presently 25.80%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wolfe Research lowered Imperial Oil from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. cut shares of Imperial Oil from a "neutral" rating to an "underweight" rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat, Imperial Oil presently has an average rating of "Hold" and a consensus 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.