Swiss National Bank Sells 35,300 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Swiss National Bank decreased its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 531,876 shares of the energy company’s stock after selling 35,300 shares during the quarter. Swiss National Bank’s holdings in Imperial Oil were worth $32,764,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC boosted its position in Imperial Oil by 3.7% in the third quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock worth $2,598,604,000 after purchasing an additional 1,331,235 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Imperial Oil by 8.4% during the third quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company’s stock valued at $311,175,000 after buying an additional 341,689 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Imperial Oil by 9.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,107,250 shares of the energy company’s stock worth $148,235,000 after buying an additional 187,158 shares during the last quarter. Geode Capital Management LLC raised its position in Imperial Oil by 9.1% in the third quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company’s stock worth $59,502,000 after acquiring an additional 70,357 shares during the period. Finally, National Bank of Canada FI grew its position in shares of Imperial Oil by 13.3% during the 3rd quarter. National Bank of Canada FI now owns 751,038 shares of the energy company’s stock valued at $52,885,000 after acquiring an additional 87,914 shares during the period. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Analysts Set New Price Targets

IMO has been the topic of a number of research reports. Wolfe Research cut shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, Imperial Oil currently has a consensus rating of “Hold” and a consensus price target of $109.00.

Imperial Oil Stock Performance

Shares of NYSEAMERICAN IMO opened at $69.15 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34. Imperial Oil Limited has a fifty-two week low of $60.95 and a fifty-two week high of $80.17. The stock has a market capitalization of $35.20 billion, a PE ratio of 10.49 and a beta of 1.44. The company has a fifty day moving average of $67.78.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.4972 per share. The ex-dividend date is Wednesday, March 5th. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. This represents a $1.99 annualized dividend and a dividend yield of 2.88%. Imperial Oil’s dividend payout ratio is currently 25.80%.

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.