Guinness Asset Management LTD Sells 46,642 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Guinness Asset Management LTD lessened its position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 22.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 165,466 shares of the energy company's stock after selling 46,642 shares during the quarter. Guinness Asset Management LTD's holdings in Imperial Oil were worth $10,173,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. FMR LLC grew its stake in Imperial Oil by 3.7% in the third quarter. FMR LLC now owns 36,933,627 shares of the energy company's stock valued at $2,598,604,000 after purchasing an additional 1,331,235 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Imperial Oil by 8.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company's stock valued at $311,175,000 after purchasing an additional 341,689 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Imperial Oil by 9.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,107,250 shares of the energy company's stock valued at $148,235,000 after buying an additional 187,158 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Imperial Oil by 10,896.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company's stock worth $59,135,000 after acquiring an additional 859,288 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Imperial Oil by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company's stock worth $59,502,000 after acquiring an additional 70,357 shares during the last quarter. Institutional investors own 20.74% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IMO shares. JPMorgan Chase & Co. downgraded shares of Imperial Oil from a "neutral" rating to an "underweight" rating in a report on Thursday, December 19th. Scotiabank restated a "sector perform" rating and set a $110.00 price objective on shares of Imperial Oil in a research report on Wednesday, September 25th. Finally, Wolfe Research downgraded Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $109.00.

Imperial Oil Price Performance

NYSEAMERICAN:IMO traded down $0.23 during mid-day trading on Monday, reaching $68.42. 462,381 shares of the company's stock were exchanged, compared to its average volume of 455,065. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44. The firm has a market cap of $35.07 billion, a price-to-earnings ratio of 10.20 and a beta of 1.45. Imperial Oil Limited has a one year low of $54.74 and a one year high of $80.17.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd were paid a $0.4304 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Tuesday, December 3rd. Imperial Oil's dividend payout ratio (DPR) is currently 25.34%.

Imperial Oil 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.