CIBC Asset Management Inc Sells 290,649 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

CIBC Asset Management Inc trimmed its position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 58.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 203,998 shares of the energy company's stock after selling 290,649 shares during the period. CIBC Asset Management Inc's holdings in Imperial Oil were worth $12,544,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IMO. Creative Planning grew its stake in Imperial Oil by 13.1% in the 3rd quarter. Creative Planning now owns 43,329 shares of the energy company's stock valued at $3,053,000 after purchasing an additional 5,024 shares during the period. Blue Trust Inc. grew its position in Imperial Oil by 9.6% during the third quarter. Blue Trust Inc. now owns 9,756 shares of the energy company's stock valued at $666,000 after buying an additional 856 shares during the period. Oakworth Capital Inc. bought a new position in Imperial Oil during the third quarter valued at about $101,000. U S Global Investors Inc. bought a new position in shares of Imperial Oil during the 3rd quarter valued at approximately $423,000. Finally, Sequoia Financial Advisors LLC grew its position in shares of Imperial Oil by 5.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,753 shares of the energy company's stock valued at $265,000 after acquiring an additional 178 shares during the period. 20.74% of the stock is owned by institutional investors.

Imperial Oil Stock Down 4.4 %

NYSEAMERICAN:IMO traded down $3.19 during trading hours on Friday, hitting $69.81. The stock had a trading volume of 430,265 shares, 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 one year low of $60.38 and a one year 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.

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Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.4972 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from Imperial Oil's previous quarterly dividend of $0.43. This represents a $1.99 annualized dividend and a yield of 2.85%. Imperial Oil's payout ratio is presently 25.80%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IMO. JPMorgan Chase & Co. lowered Imperial Oil from a "neutral" rating to an "underweight" rating in a report on Thursday, December 19th. Wolfe Research downgraded 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 given a hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $109.00.

Imperial Oil Company 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.