Alberta Investment Management Corp Sells 132,265 Shares of 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 disclosure with the Securities & Exchange Commission. The fund owned 384,942 shares of the energy company's stock after selling 132,265 shares during the quarter. Alberta Investment Management Corp owned approximately 0.08% of Imperial Oil worth $27,802,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IMO. American Century Companies Inc. boosted its holdings in Imperial Oil by 5.5% in the fourth quarter. American Century Companies Inc. now owns 82,555 shares of the energy company's stock valued at $5,088,000 after acquiring an additional 4,297 shares during the last quarter. LPL Financial LLC raised its position in shares of Imperial Oil by 3.5% in the 4th quarter. LPL Financial LLC now owns 47,255 shares of the energy company's stock worth $2,911,000 after acquiring an additional 1,617 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 worth $58,212,000 after acquiring an additional 212,707 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Imperial Oil in the 4th quarter worth about $4,848,000. Finally, Franklin Resources Inc. raised its position in shares of Imperial Oil by 1.3% in the 4th quarter. Franklin Resources Inc. now owns 194,121 shares of the energy company's stock worth $11,949,000 after acquiring an additional 2,474 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Stock Down 0.2%

NYSEAMERICAN:IMO traded down $0.15 during trading hours on Friday, reaching $83.32. 581,456 shares of the company traded hands, compared to its average volume of 362,654. The business's 50-day moving average price is $79.47 and its two-hundred day moving average price is $71.48. The stock has a market capitalization of $42.41 billion, a P/E ratio of 12.45 and a beta of 0.92. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $86.26. The company has a current ratio of 1.48, a quick ratio of 1.22 and a debt-to-equity ratio of 0.16.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th were issued a $0.523 dividend. This represents a $2.09 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, June 4th. This is an increase from Imperial Oil's previous quarterly dividend of $0.50. Imperial Oil's dividend payout ratio (DPR) is presently 31.87%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IMO. Wolfe Research lowered Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, July 23rd. Desjardins lowered Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Raymond James Financial lowered Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Finally, Tudor Pickering lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $105.50.

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.