Alberta Investment Management Corp Decreases Stock Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Key Points

• Alberta Investment Management Corp sold 132,265 shares of Imperial Oil Limited, reducing its holdings by 25.6%, and now owns approximately 0.08% of the company valued at $27.8 million.
• Multiple research firms have recently lowered their ratings on Imperial Oil, with only three analysts giving it a sell rating, while the consensus rating is "Hold" with a price target of $105.50.
• Imperial Oil has increased its quarterly dividend from $0.50 to $0.523 per share, resulting in a 2.5% yield and a payout ratio of 31.87%.

Alberta Investment Management Corp decreased its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 25.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 384,942 shares of the energy company's stock after selling 132,265 shares during the period. Alberta Investment Management Corp owned approximately 0.08% of Imperial Oil worth $27,802,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Yousif Capital Management LLC bought a new stake in shares of Imperial Oil in the 1st quarter valued at about $226,000. Bessemer Group Inc. lifted its stake in shares of Imperial Oil by 198.9% in the 1st quarter. Bessemer Group Inc. now owns 23,690 shares of the energy company's stock valued at $1,713,000 after purchasing an additional 15,765 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Imperial Oil by 29.0% in the 4th quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company's stock valued at $58,212,000 after purchasing an additional 212,707 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Imperial Oil by 8.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 63,193 shares of the energy company's stock valued at $3,893,000 after purchasing an additional 5,181 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Imperial Oil by 7.7% in the 1st quarter. Principal Financial Group Inc. now owns 16,796 shares of the energy company's stock valued at $1,213,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 20.74% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on IMO shares. Tudor Pickering lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Wolfe Research cut Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 23rd. Raymond James Financial cut Imperial Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Finally, Desjardins cut Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, Imperial Oil presently has a consensus rating of "Hold" and an average target price of $105.50.

Imperial Oil Price Performance

NYSEAMERICAN IMO traded up $0.54 during trading hours on Monday, reaching $83.86. 99,522 shares of the stock traded hands, compared to its average volume of 460,656. The stock has a 50 day simple moving average of $79.47 and a two-hundred day simple moving average of $71.49. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $86.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.22. The company has a market cap of $42.69 billion, a price-to-earnings ratio of 12.92 and a beta of 0.92.

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.