Quantinno Capital Management LP Cuts Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Quantinno Capital Management LP trimmed its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 14.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 64,852 shares of the energy company's stock after selling 10,858 shares during the quarter. Quantinno Capital Management LP's holdings in Imperial Oil were worth $4,569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its position 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 buying an additional 1,331,235 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Imperial Oil by 10,896.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company's stock valued at $59,135,000 after acquiring an additional 859,288 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Imperial Oil during the second quarter worth $40,729,000. TD Asset Management Inc lifted its position in Imperial Oil by 12.2% during the second quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company's stock valued at $258,817,000 after purchasing an additional 412,600 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Imperial Oil by 8.4% in the third 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. Hedge funds and other institutional investors own 20.74% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IMO. Scotiabank reissued a "sector perform" rating and set a $110.00 price target on shares of Imperial Oil in a report on Wednesday, September 25th. StockNews.com cut Imperial Oil from a "buy" rating to a "hold" rating in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Imperial Oil currently has a consensus rating of "Hold" and an average target price of $109.00.

Imperial Oil Price Performance

Imperial Oil stock traded down $1.61 during midday trading on Friday, hitting $71.28. 262,651 shares of the stock were exchanged, compared to its average volume of 497,231. The company has a current ratio of 1.44, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The stock has a market cap of $36.91 billion, a P/E ratio of 10.62 and a beta of 1.42. Imperial Oil Limited has a fifty-two week low of $52.97 and a fifty-two week high of $80.17.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be given a dividend of $0.4304 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.42%. Imperial Oil's payout ratio is currently 26.38%.

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.