K2 Principal Fund L.P. Takes $634,000 Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

K2 Principal Fund L.P. purchased a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,000 shares of the energy company's stock, valued at approximately $634,000.

Other institutional investors have also recently made changes to their positions in the company. Fiera Capital Corp increased its position in Imperial Oil by 262.5% during the second quarter. Fiera Capital Corp now owns 95,455 shares of the energy company's stock worth $6,511,000 after buying an additional 69,121 shares during the last quarter. Bridgewater Associates LP lifted its holdings in Imperial Oil by 522.8% during the 3rd quarter. Bridgewater Associates LP now owns 201,126 shares of the energy company's stock valued at $14,166,000 after purchasing an additional 168,831 shares during the last quarter. Ritholtz Wealth Management boosted its position in Imperial Oil by 17.4% during the third quarter. Ritholtz Wealth Management now owns 59,726 shares of the energy company's stock worth $4,208,000 after purchasing an additional 8,858 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Imperial Oil by 855.2% in the third quarter. Assenagon Asset Management S.A. now owns 35,981 shares of the energy company's stock valued at $2,534,000 after purchasing an additional 32,214 shares during the last quarter. Finally, National Bank of Canada FI raised its position in shares of Imperial Oil by 13.3% in the third quarter. National Bank of Canada FI now owns 751,038 shares of the energy company's stock valued at $52,885,000 after purchasing an additional 87,914 shares during the period. Institutional investors and hedge funds own 20.74% of the company's stock.

Imperial Oil Stock Down 2.2 %

NYSEAMERICAN IMO traded down $1.61 during trading on Friday, hitting $71.28. 262,651 shares of the company's stock were exchanged, compared to its average volume of 497,231. The company has a market cap of $36.91 billion, a price-to-earnings ratio of 10.62 and a beta of 1.42. The company has a current ratio of 1.44, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. 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 company also recently announced 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 of this dividend is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a yield of 2.42%. Imperial Oil's payout ratio is presently 26.38%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IMO. Scotiabank reaffirmed a "sector perform" rating and issued a $110.00 target price on shares of Imperial Oil in a research 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Imperial Oil presently has an average rating of "Hold" and a consensus price target of $109.00.

Imperial Oil 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.