K2 Principal Fund L.P. Buys New Shares in Imperial Oil Limited (NYSEAMERICAN:IMO)

K2 Principal Fund L.P. purchased a new position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,000 shares of the energy company’s stock, valued at approximately $634,000.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Imperial Oil by 3.7% during the 3rd quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock valued at $2,598,604,000 after buying an additional 1,331,235 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Imperial Oil by 10,896.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock valued at $59,135,000 after acquiring an additional 859,288 shares during the period. Jupiter Asset Management Ltd. purchased a new position in shares of Imperial Oil in the second quarter valued at about $40,729,000. TD Asset Management Inc lifted its position in shares of Imperial Oil by 12.2% in the second quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock valued at $258,817,000 after acquiring an additional 412,600 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Imperial Oil by 8.4% in the third quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company’s stock worth $311,175,000 after acquiring an additional 341,689 shares during the period. Institutional investors own 20.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IMO shares. Scotiabank reaffirmed a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a research note on Wednesday, September 25th. StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $109.00.

Imperial Oil Trading Down 2.2 %

Shares of NYSEAMERICAN:IMO opened at $71.28 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44. Imperial Oil Limited has a 12 month low of $52.97 and a 12 month high of $80.17. The stock has a market cap of $36.91 billion, a P/E ratio of 10.62 and a beta of 1.42.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.4304 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 annualized dividend and a dividend yield of 2.42%. Imperial Oil’s dividend payout ratio (DPR) is 26.38%.

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.