Triasima Portfolio Management inc. Cuts Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

Triasima Portfolio Management inc. decreased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 46.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,330 shares of the energy company's stock after selling 43,519 shares during the period. Triasima Portfolio Management inc.'s holdings in Imperial Oil were worth $3,563,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Stephens Inc. AR boosted its position in Imperial Oil by 2.0% in the first quarter. Stephens Inc. AR now owns 14,861 shares of the energy company's stock valued at $1,075,000 after buying an additional 290 shares in the last quarter. Kathmere Capital Management LLC raised its stake in shares of Imperial Oil by 9.3% during the first quarter. Kathmere Capital Management LLC now owns 6,580 shares of the energy company's stock valued at $476,000 after acquiring an additional 560 shares during the last quarter. Genus Capital Management Inc. raised its stake in shares of Imperial Oil by 292.6% during the first quarter. Genus Capital Management Inc. now owns 94,512 shares of the energy company's stock valued at $6,826,000 after acquiring an additional 143,581 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Imperial Oil by 46.7% during the first quarter. Cerity Partners LLC now owns 85,764 shares of the energy company's stock valued at $6,202,000 after acquiring an additional 27,314 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Imperial Oil by 8.1% during the first quarter. Envestnet Asset Management Inc. now owns 68,299 shares of the energy company's stock valued at $4,939,000 after acquiring an additional 5,106 shares during the last quarter. Institutional investors and hedge funds own 20.74% of the company's stock.

Imperial Oil Stock Up 0.4%

Imperial Oil stock traded up $0.32 during midday trading on Friday, hitting $82.31. 411,826 shares of the stock were exchanged, compared to its average volume of 455,704. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $83.65. The stock has a market capitalization of $41.90 billion, a price-to-earnings ratio of 12.30 and a beta of 0.89. The business's 50-day moving average price is $77.14 and its 200-day moving average price is $70.90. The company has a quick ratio of 1.22, a current ratio of 1.48 and a debt-to-equity ratio of 0.16.

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 paid a $0.523 dividend. This represents a $2.09 dividend on an annualized basis and a yield of 2.54%. This is a boost from Imperial Oil's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Wednesday, June 4th. Imperial Oil's payout ratio is presently 31.87%.

Wall Street Analysts Forecast Growth

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

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.