Bank of New York Mellon Corp Has $15.72 Million Stock Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Bank of New York Mellon Corp decreased its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 10.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 217,311 shares of the energy company's stock after selling 25,993 shares during the quarter. Bank of New York Mellon Corp's holdings in Imperial Oil were worth $15,716,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wayfinding Financial LLC acquired a new stake in shares of Imperial Oil during the first quarter worth about $26,000. Group One Trading LLC increased its position in 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 purchasing an additional 173 shares during the period. Continuum Advisory LLC purchased a new stake in shares of Imperial Oil during the 1st quarter worth approximately $71,000. AdvisorNet Financial Inc boosted its stake in shares of Imperial Oil by 104.0% during the 1st quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company's stock worth $92,000 after acquiring an additional 650 shares in the last quarter. Finally, Pacifica Partners Inc. boosted its stake in shares of Imperial Oil by 141.1% during the 1st quarter. Pacifica Partners Inc. now owns 2,440 shares of the energy company's stock worth $167,000 after acquiring an additional 1,428 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company's stock.

Wall Street Analysts Forecast Growth

IMO has been the topic of a number of recent research reports. The Goldman Sachs Group lowered Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th. Wolfe Research upgraded Imperial Oil from a "peer perform" rating to an "outperform" rating in a report on Monday, April 21st. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $101.00 price target on shares of Imperial Oil in a report on Thursday, April 3rd. Desjardins downgraded Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. Finally, Raymond James Financial downgraded Imperial Oil from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 3rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $105.50.

Imperial Oil Stock Up 0.4%

NYSEAMERICAN:IMO traded up $0.32 during trading hours on Friday, hitting $82.31. 411,826 shares of the stock traded hands, compared to its average volume of 455,704. The firm has a 50 day moving average price of $77.14 and a 200 day moving average price of $70.87. 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 $83.65. The firm has a market cap of $41.90 billion, a price-to-earnings ratio of 12.30 and a beta of 0.89.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.523 per share. This is a boost from Imperial Oil's previous quarterly dividend of $0.50. This represents a $2.09 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Wednesday, June 4th. Imperial Oil's payout ratio is currently 31.87%.

About Imperial Oil

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.