Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd reduced its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 42.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 226,477 shares of the energy company's stock after selling 166,917 shares during the quarter. AustralianSuper Pty Ltd's holdings in Imperial Oil were worth $16,362,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in Imperial Oil in the 1st quarter valued at approximately $26,000. Group One Trading LLC boosted its holdings in shares of Imperial Oil by 29.7% during the 4th quarter. Group One Trading LLC now owns 755 shares of the energy company's stock worth $47,000 after buying an additional 173 shares during the period. Continuum Advisory LLC bought a new stake in Imperial Oil in the 1st quarter valued at $71,000. AdvisorNet Financial Inc boosted its holdings in Imperial Oil by 104.0% in the 1st quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company's stock valued at $92,000 after purchasing an additional 650 shares during the period. Finally, Pacifica Partners Inc. raised its stake in shares of Imperial Oil by 141.1% in the 1st quarter. Pacifica Partners Inc. now owns 2,440 shares of the energy company's stock valued at $167,000 after buying an additional 1,428 shares in the last quarter. 20.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Desjardins downgraded shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. Raymond James Financial downgraded shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $101.00 price objective on shares of Imperial Oil in a research report on Thursday, April 3rd. The Goldman Sachs Group cut Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th. Finally, Wolfe Research lowered Imperial Oil from an "outperform" rating to a "peer perform" rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $105.50.

Imperial Oil Stock Performance

Shares of NYSEAMERICAN IMO traded up $0.80 during trading hours on Wednesday, reaching $84.28. The stock had a trading volume of 101,649 shares, compared to its average volume of 454,475. The firm has a market cap of $42.90 billion, a price-to-earnings ratio of 12.60 and a beta of 0.89. 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 Limited has a fifty-two week low of $58.76 and a fifty-two week high of $84.38. The firm has a 50-day moving average of $77.14 and a 200-day moving average of $70.84.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.523 per share. This represents a $2.09 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Wednesday, June 4th. This is a boost from Imperial Oil's previous quarterly dividend of $0.50. Imperial Oil's dividend payout ratio is 31.87%.

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.