Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 27.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 155,017 shares of the energy company's stock after selling 58,142 shares during the period. Nuveen Asset Management LLC's holdings in Imperial Oil were worth $9,549,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in IMO. Wingate Wealth Advisors Inc. purchased a new stake in Imperial Oil during the fourth quarter worth about $41,000. Group One Trading LLC grew its holdings in shares of Imperial Oil by 29.7% in the fourth quarter. Group One Trading LLC now owns 755 shares of the energy company's stock valued at $47,000 after purchasing an additional 173 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Imperial Oil by 21.0% in the fourth quarter. Allworth Financial LP now owns 1,630 shares of the energy company's stock valued at $100,000 after purchasing an additional 283 shares in the last quarter. Natixis purchased a new stake in Imperial Oil during the 4th quarter worth approximately $190,000. Finally, Quantbot Technologies LP acquired a new stake in Imperial Oil during the 4th quarter worth approximately $193,000. Hedge funds and other institutional investors own 20.74% of the company's stock.

Imperial Oil Stock Performance

Imperial Oil stock traded down $0.91 during mid-day trading on Friday, reaching $70.91. 375,880 shares of the company were exchanged, compared to its average volume of 450,383. The firm's 50-day simple moving average is $68.41 and its two-hundred day simple moving average is $69.94. Imperial Oil Limited has a twelve month low of $58.76 and a twelve month high of $80.17. The firm has a market cap of $36.10 billion, a PE ratio of 10.76 and a beta of 1.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 4th will be issued a $0.523 dividend. This is an increase from Imperial Oil's previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, June 4th. This represents a $2.09 annualized dividend and a dividend yield of 2.95%. Imperial Oil's payout ratio is presently 25.80%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IMO. The Goldman Sachs Group lowered Imperial Oil from a "neutral" rating to a "sell" rating in a research report on Thursday, March 27th. Scotiabank upgraded shares of Imperial Oil to a "hold" rating in a research note on Wednesday, March 19th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $101.00 target price on shares of Imperial Oil in a report on Thursday, April 3rd. Raymond James reiterated an "outperform" rating on shares of Imperial Oil in a report on Monday, May 5th. Finally, Wolfe Research raised shares of Imperial Oil from a "peer perform" rating to an "outperform" rating in a research report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $106.33.

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.