Balyasny Asset Management L.P. Has $2.95 Million Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

Balyasny Asset Management L.P. trimmed its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 60.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,806 shares of the energy company's stock after selling 74,307 shares during the period. Balyasny Asset Management L.P.'s holdings in Imperial Oil were worth $2,945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Mediolanum International Funds Ltd increased its position in Imperial Oil by 42.8% in the 4th quarter. Mediolanum International Funds Ltd now owns 14,364 shares of the energy company's stock worth $874,000 after purchasing an additional 4,308 shares during the last quarter. JPMorgan Chase & Co. grew 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 buying an additional 212,707 shares in the last quarter. Stevens Capital Management LP acquired a new position in Imperial Oil in the fourth quarter worth approximately $258,000. Envestnet Asset Management Inc. raised its position in Imperial Oil by 8.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 63,193 shares of the energy company's stock valued at $3,893,000 after acquiring an additional 5,181 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Imperial Oil in the fourth quarter valued at approximately $7,982,000. 20.74% of the stock is owned by institutional investors and hedge funds.

Imperial Oil Price Performance

NYSEAMERICAN IMO traded down $0.41 on Thursday, reaching $72.33. The company's stock had a trading volume of 315,391 shares, compared to its average volume of 450,409. Imperial Oil Limited has a 52 week low of $58.76 and a 52 week high of $80.17. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The firm has a market cap of $36.82 billion, a PE ratio of 10.98 and a beta of 1.44. The business has a 50-day moving average price of $67.85 and a 200 day moving average price of $69.77.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 4th will be paid a $0.523 dividend. This is a positive change from Imperial Oil's previous quarterly dividend of $0.50. This represents a $2.09 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Wednesday, June 4th. Imperial Oil's dividend payout ratio is currently 25.80%.

Wall Street Analyst Weigh In

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