Triasima Portfolio Management inc. Sells 43,519 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Triasima Portfolio Management inc. cut its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 46.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund 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 SEC filing.

Other hedge funds have also modified their holdings of the company. FMR LLC lifted its position in Imperial Oil by 16.9% during the fourth 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Imperial Oil in the fourth quarter worth $19,507,000. Geode Capital Management LLC increased its stake in shares of Imperial Oil by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 1,086,840 shares of the energy company's stock worth $67,634,000 after buying an additional 244,176 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Imperial Oil by 29.0% in the fourth quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company's stock worth $58,212,000 after buying an additional 212,707 shares during the last quarter. Finally, Guardian Partners Inc. bought a new stake in shares of Imperial Oil in the fourth quarter worth $10,890,000. 20.74% of the stock is owned by institutional investors and hedge funds.

Imperial Oil Stock Performance

Shares of IMO traded down $0.06 during mid-day trading on Thursday, hitting $81.99. The company's stock had a trading volume of 344,002 shares, compared to its average volume of 453,855. Imperial Oil Limited has a one year low of $58.76 and a one year high of $83.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.22 and a current ratio of 1.48. The firm has a market capitalization of $41.74 billion, a PE ratio of 12.26 and a beta of 0.89. The stock's 50-day moving average is $76.67 and its two-hundred day moving average is $70.82.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th were paid a $0.523 dividend. This represents a $2.09 dividend on an annualized basis and a dividend yield of 2.55%. This is a positive change from Imperial Oil's previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, June 4th. Imperial Oil's dividend payout ratio is presently 31.87%.

Wall Street Analyst Weigh In

IMO has been the subject of several research analyst reports. Wolfe Research raised shares of Imperial Oil from a "peer perform" rating to an "outperform" rating in a report on Monday, April 21st. Scotiabank raised shares of Imperial Oil to a "hold" rating in a report on Wednesday, March 19th. Desjardins downgraded Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. Raymond James Financial downgraded Imperial Oil from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada restated 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, four have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $106.33.

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.