The Manufacturers Life Insurance Company Sells 533,618 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

The Manufacturers Life Insurance Company reduced its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 12.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,886,384 shares of the energy company's stock after selling 533,618 shares during the period. The Manufacturers Life Insurance Company owned about 0.76% of Imperial Oil worth $239,836,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Winch Advisory Services LLC bought a new stake in Imperial Oil in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Imperial Oil during the 4th quarter valued at $41,000. Allworth Financial LP grew its holdings in Imperial Oil by 21.0% in the 4th quarter. Allworth Financial LP now owns 1,630 shares of the energy company's stock worth $100,000 after acquiring an additional 283 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Imperial Oil during the 3rd quarter valued at about $137,000. Finally, Natixis bought a new position in Imperial Oil during the 4th quarter valued at approximately $190,000. 20.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IMO shares. Wolfe Research raised Imperial Oil from a "peer perform" rating to an "outperform" rating in a research note on Monday, April 21st. Scotiabank upgraded shares of Imperial Oil to a "hold" rating in a report on Wednesday, March 19th. Raymond James raised shares of Imperial Oil from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Royal Bank of Canada restated a "sector perform" rating and issued a $101.00 price objective on shares of Imperial Oil in a report on Thursday, April 3rd. Finally, The Goldman Sachs Group downgraded Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday, March 27th. 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $106.33.

Imperial Oil Stock Up 1.0 %

Shares of IMO stock traded up $0.71 during trading hours on Friday, hitting $68.78. 503,323 shares of the company's stock traded hands, compared to its average volume of 448,822. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. The stock has a market cap of $35.01 billion, a price-to-earnings ratio of 10.44 and a beta of 1.44. The stock's fifty day simple moving average is $67.63 and its two-hundred day simple moving average is $69.74. Imperial Oil Limited has a 12-month low of $58.76 and a 12-month high of $80.17.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.4972 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from Imperial Oil's previous quarterly dividend of $0.43. This represents a $1.99 annualized dividend and a dividend yield of 2.89%. Imperial Oil's dividend payout ratio (DPR) is presently 25.80%.

Imperial Oil Company 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.