Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 10.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 217,311 shares of the energy company's stock after selling 25,993 shares during the period. 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 institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC raised its holdings in Imperial Oil by 16.9% in the 4th quarter. FMR LLC now owns 43,162,088 shares of the energy company's stock valued at $2,659,965,000 after buying an additional 6,228,461 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Imperial Oil in the 4th quarter valued at $19,507,000. Geode Capital Management LLC increased its stake in shares of Imperial Oil by 29.0% in the 4th quarter. Geode Capital Management LLC now owns 1,086,840 shares of the energy company's stock valued at $67,634,000 after acquiring an additional 244,176 shares in the last quarter. JPMorgan Chase & Co. increased 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 acquiring an additional 212,707 shares in the last quarter. Finally, Guardian Partners Inc. bought a new stake in shares of Imperial Oil in the 4th quarter valued at $10,890,000. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Imperial Oil Stock Performance

Shares of IMO stock traded up $0.53 during trading hours on Wednesday, reaching $84.01. 434,293 shares of the company traded hands, compared to its average volume of 456,743. The firm has a 50-day moving average price of $77.75 and a 200 day moving average price of $70.99. The company has a market cap of $42.77 billion, a P/E ratio of 12.56 and a beta of 0.89. Imperial Oil Limited has a 12-month low of $58.76 and a 12-month high of $84.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.22.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th were issued a dividend of $0.523 per share. The ex-dividend date was Wednesday, June 4th. This represents a $2.09 dividend on an annualized basis and a yield of 2.49%. This is a boost from Imperial Oil's previous quarterly dividend of $0.50. Imperial Oil's payout ratio is presently 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.