Imperial Oil Limited (NYSEAMERICAN:IMO) Stock Holdings Cut by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 58.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 203,998 shares of the energy company’s stock after selling 290,649 shares during the quarter. CIBC Asset Management Inc’s holdings in Imperial Oil were worth $12,544,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC acquired a new stake in shares of Imperial Oil during the 4th quarter valued at $26,000. BNP Paribas Financial Markets acquired a new stake in shares of Imperial Oil during the 3rd quarter valued at $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Imperial Oil during the 4th quarter valued at $41,000. Allworth Financial LP lifted its position in shares of Imperial Oil by 21.0% during the 3rd quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock valued at $95,000 after acquiring an additional 234 shares during the last quarter. Finally, Oakworth Capital Inc. acquired a new stake in shares of Imperial Oil during the 3rd quarter valued at $101,000. 20.74% of the stock is owned by institutional investors.

Imperial Oil Stock Performance

IMO opened at $71.09 on Wednesday. The firm has a market capitalization of $36.19 billion, a PE ratio of 10.79 and a beta of 1.44. Imperial Oil Limited has a 12-month low of $58.60 and a 12-month high of $80.17. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th will be issued a dividend of $0.4972 per share. This represents a $1.99 annualized dividend and a dividend yield of 2.80%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 5th. Imperial Oil’s dividend payout ratio (DPR) is currently 25.80%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on IMO shares. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. lowered Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, Imperial Oil presently has an average rating of “Hold” and a consensus price target of $109.00.

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.