Imperial Oil Limited $IMO Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 18.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,053,989 shares of the energy company’s stock after purchasing an additional 318,696 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Imperial Oil were worth $163,413,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFG Advisory LLC boosted its stake in Imperial Oil by 0.4% during the second quarter. IFG Advisory LLC now owns 32,359 shares of the energy company’s stock worth $2,572,000 after buying an additional 136 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Imperial Oil by 4.9% in the 2nd quarter. Ballentine Partners LLC now owns 3,971 shares of the energy company’s stock worth $316,000 after acquiring an additional 184 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Imperial Oil by 1.5% during the 2nd quarter. Stephens Inc. AR now owns 15,090 shares of the energy company’s stock worth $1,199,000 after purchasing an additional 229 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Imperial Oil by 88.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company’s stock valued at $39,000 after purchasing an additional 255 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Imperial Oil by 3.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,269 shares of the energy company’s stock valued at $836,000 after purchasing an additional 337 shares during the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Stock Up 2.8%

Shares of NYSEAMERICAN:IMO opened at $93.44 on Friday. Imperial Oil Limited has a fifty-two week low of $58.76 and a fifty-two week high of $96.09. The firm’s 50 day moving average price is $90.12 and its 200 day moving average price is $82.55. The company has a quick ratio of 1.34, a current ratio of 1.58 and a debt-to-equity ratio of 0.16. The stock has a market cap of $46.43 billion, a price-to-earnings ratio of 14.40 and a beta of 0.83.

Imperial Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. Imperial Oil’s payout ratio is presently 31.87%.

Analysts Set New Price Targets

IMO has been the topic of a number of research reports. Tudor Pickering cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Cibc World Mkts cut Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research report on Tuesday. Wolfe Research cut shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 23rd. Finally, BMO Capital Markets restated an “outperform” rating on shares of Imperial Oil in a report on Monday, August 4th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $115.00.

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.