Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp trimmed its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 15.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 517,207 shares of the energy company's stock after selling 98,090 shares during the quarter. Alberta Investment Management Corp owned approximately 0.10% of Imperial Oil worth $31,859,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in IMO. FMR LLC boosted its stake in Imperial Oil by 3.7% during the third quarter. FMR LLC now owns 36,933,627 shares of the energy company's stock worth $2,598,604,000 after buying an additional 1,331,235 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Imperial Oil by 8.4% during the third quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company's stock worth $311,175,000 after buying an additional 341,689 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Imperial Oil by 9.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,107,250 shares of the energy company's stock worth $148,235,000 after buying an additional 187,158 shares during the last quarter. Geode Capital Management LLC boosted its stake in Imperial Oil by 9.1% during the third quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company's stock worth $59,502,000 after buying an additional 70,357 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in Imperial Oil by 13.3% during the third quarter. National Bank of Canada FI now owns 751,038 shares of the energy company's stock worth $52,885,000 after buying an additional 87,914 shares during the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

IMO has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered Imperial Oil from a "neutral" rating to an "underweight" rating in a research note on Thursday, December 19th. Wolfe Research lowered Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $109.00.

Imperial Oil Price Performance

NYSEAMERICAN IMO traded down $3.19 during trading hours on Friday, hitting $69.81. 430,265 shares of the company were exchanged, compared to its average volume of 481,266. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.23. Imperial Oil Limited has a 52-week low of $60.38 and a 52-week high of $80.17. The company has a market cap of $35.54 billion, a price-to-earnings ratio of 10.59 and a beta of 1.44.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th will be issued a $0.4972 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.99 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from Imperial Oil's previous quarterly dividend of $0.43. Imperial Oil's dividend payout ratio is presently 25.80%.

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.