Hillsdale Investment Management Inc. lowered its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 56.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 49,400 shares of the energy company's stock after selling 62,830 shares during the quarter. Hillsdale Investment Management Inc.'s holdings in Imperial Oil were worth $3,041,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC lifted its position in Imperial Oil by 2.0% during the fourth quarter. Signaturefd LLC now owns 7,648 shares of the energy company's stock valued at $471,000 after purchasing an additional 150 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of 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 buying an additional 163 shares during the period. Gold Investment Management Ltd. boosted its stake in shares of Imperial Oil by 0.7% in the fourth quarter. Gold Investment Management Ltd. now owns 27,904 shares of the energy company's stock worth $1,719,000 after buying an additional 186 shares during the last quarter. OLD National Bancorp IN boosted its stake in shares of Imperial Oil by 5.0% in the fourth 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 during the last quarter. Finally, Allworth Financial LP grew its holdings in Imperial Oil by 21.0% during the fourth quarter. Allworth Financial LP now owns 1,630 shares of the energy company's stock worth $100,000 after acquiring an additional 283 shares during the period. Hedge funds and other institutional investors own 20.74% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently commented on IMO. JPMorgan Chase & Co. cut Imperial Oil from a "neutral" rating to an "underweight" rating in a research report on Thursday, December 19th. The Goldman Sachs Group lowered Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday. Wolfe Research downgraded Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Finally, Scotiabank upgraded Imperial Oil to a "hold" rating in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $109.00.
Get Our Latest Stock Analysis on Imperial Oil
Imperial Oil Stock Down 1.2 %
IMO stock traded down $0.89 during mid-day trading on Thursday, hitting $72.27. 330,404 shares of the company were exchanged, compared to its average volume of 432,210. Imperial Oil Limited has a 12-month low of $60.95 and a 12-month high of $80.17. The stock has a market capitalization of $36.79 billion, a price-to-earnings ratio of 10.97 and a beta of 1.44. The firm's fifty day simple moving average is $69.08. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17.
Imperial Oil Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th will be issued a $0.4972 dividend. This represents a $1.99 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Imperial Oil's previous quarterly dividend of $0.43. Imperial Oil's payout ratio is currently 25.80%.
About Imperial Oil
(
Free Report)
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.
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