Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 9.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,107,250 shares of the energy company's stock after purchasing an additional 187,158 shares during the quarter. Imperial Oil comprises 0.7% of Connor Clark & Lunn Investment Management Ltd.'s investment portfolio, making the stock its 29th biggest holding. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.40% of Imperial Oil worth $148,235,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. TD Asset Management Inc boosted its holdings in shares of Imperial Oil by 12.2% during the 2nd quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company's stock worth $258,817,000 after purchasing an additional 412,600 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Imperial Oil by 10,896.4% during the second 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 last quarter. Toronto Dominion Bank raised its position in shares of Imperial Oil by 14.7% in the second quarter. Toronto Dominion Bank now owns 822,478 shares of the energy company's stock valued at $56,134,000 after buying an additional 105,205 shares during the last quarter. Capital World Investors grew its stake in Imperial Oil by 134.0% during the first quarter. Capital World Investors now owns 747,929 shares of the energy company's stock worth $51,588,000 after buying an additional 428,252 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in Imperial Oil in the 2nd quarter worth approximately $40,729,000. Hedge funds and other institutional investors own 20.74% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on IMO shares. StockNews.com downgraded Imperial Oil from a "buy" rating to a "hold" rating in a report on Wednesday, August 28th. Scotiabank restated a "sector perform" rating and set a $110.00 price target on shares of Imperial Oil in a research note on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $109.00.
Get Our Latest Analysis on Imperial Oil
Imperial Oil Stock Performance
NYSEAMERICAN IMO traded up $0.01 during trading hours on Wednesday, hitting $75.90. 237,598 shares of the company traded hands, compared to its average volume of 396,935. Imperial Oil Limited has a twelve month low of $52.97 and a twelve month high of $80.17. 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 stock has a market capitalization of $39.31 billion, a PE ratio of 11.31 and a beta of 1.44.
Imperial Oil Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be issued a $0.4304 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.27%. Imperial Oil's dividend payout ratio is currently 26.53%.
Imperial Oil Profile
(
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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