Imperial Oil Limited (NYSEAMERICAN:IMO) Stock Position Lifted by National Bank of Canada FI

National Bank of Canada FI increased its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 13.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 751,038 shares of the energy company's stock after buying an additional 87,914 shares during the quarter. National Bank of Canada FI owned about 0.15% of Imperial Oil worth $52,885,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Imperial Oil by 104.0% during the third quarter. Wellington Management Group LLP now owns 60,736 shares of the energy company's stock worth $4,278,000 after purchasing an additional 30,965 shares during the period. Stifel Financial Corp increased its holdings in shares of Imperial Oil by 1.6% during the 3rd quarter. Stifel Financial Corp now owns 100,050 shares of the energy company's stock worth $7,049,000 after buying an additional 1,543 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Imperial Oil by 4.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,640 shares of the energy company's stock worth $679,000 after buying an additional 416 shares during the period. Holocene Advisors LP purchased a new position in shares of Imperial Oil in the 3rd quarter worth $5,332,000. Finally, Erste Asset Management GmbH acquired a new position in Imperial Oil in the third quarter valued at $8,917,000. 20.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Scotiabank restated a "sector perform" rating and issued a $110.00 price target on shares of Imperial Oil in a report on Wednesday, September 25th. StockNews.com downgraded shares of Imperial Oil from a "buy" rating to a "hold" rating in a research note on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $109.00.

Imperial Oil Price Performance

Shares of IMO traded down $1.61 during midday trading on Friday, hitting $71.28. The company had a trading volume of 262,651 shares, compared to its average volume of 497,231. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44. Imperial Oil Limited has a 52 week low of $52.97 and a 52 week high of $80.17. The company has a market capitalization of $36.91 billion, a P/E ratio of 10.62 and a beta of 1.42.

Imperial Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.4304 per share. This represents a $1.72 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, December 3rd. Imperial Oil's dividend payout ratio (DPR) is presently 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.