First Eagle Investment Management LLC decreased its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO – Free Report) (TSE:IMO) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,605,005 shares of the energy company’s stock after selling 1,538,867 shares during the quarter. Imperial Oil makes up about 2.8% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 8th largest position. First Eagle Investment Management LLC’s holdings in Imperial Oil were worth $1,607,314,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its position in Imperial Oil by 100.0% during the third quarter. Westside Investment Management Inc. now owns 426 shares of the energy company’s stock worth $38,000 after buying an additional 213 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Imperial Oil by 64.8% during the third quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock worth $40,000 after buying an additional 169 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Imperial Oil by 737.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company’s stock worth $46,000 after acquiring an additional 450 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in Imperial Oil during the third quarter worth $54,000. Finally, Assetmark Inc. increased its stake in Imperial Oil by 209.5% during the fourth quarter. Assetmark Inc. now owns 653 shares of the energy company’s stock worth $56,000 after acquiring an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.
Wall Street Analyst Weigh In
IMO has been the subject of several recent analyst reports. TD Securities reissued a “sell” rating on shares of Imperial Oil in a research note on Monday, February 23rd. Royal Bank Of Canada cut Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 target price for the company. in a research note on Monday, February 23rd. Finally, Zacks Research raised Imperial Oil from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $116.00.
Imperial Oil Trading Up 2.6%
Shares of NYSEAMERICAN IMO opened at $130.23 on Tuesday. Imperial Oil Limited has a twelve month low of $70.29 and a twelve month high of $134.31. The company has a current ratio of 1.23, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $125.95 and a 200-day simple moving average of $107.70. The stock has a market capitalization of $62.98 billion, a PE ratio of 30.71 and a beta of 0.48.
Imperial Oil Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 4th will be paid a $0.87 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.7%. Imperial Oil’s payout ratio is presently 38.69%.
Imperial Oil Company Profile
Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.
Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.
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