Jupiter Asset Management Ltd. Sells 230,171 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Jupiter Asset Management Ltd. decreased its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 41.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,725 shares of the energy company’s stock after selling 230,171 shares during the period. Jupiter Asset Management Ltd.’s holdings in Imperial Oil were worth $20,434,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. FMR LLC increased its stake in Imperial Oil by 3.7% in the third quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock valued at $2,598,604,000 after purchasing an additional 1,331,235 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Imperial Oil by 8.4% in the 3rd 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Imperial Oil by 9.7% during the 3rd 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 period. Geode Capital Management LLC boosted its holdings 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 in the last quarter. Finally, National Bank of Canada FI grew its stake in Imperial Oil by 13.3% in the third 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. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Stock Up 1.0 %

Shares of Imperial Oil stock opened at $67.06 on Thursday. Imperial Oil Limited has a 52 week low of $60.95 and a 52 week high of $80.17. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average of $67.45. The stock has a market capitalization of $34.14 billion, a P/E ratio of 10.18 and a beta of 1.44.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th will be given a $0.4972 dividend. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. This represents a $1.99 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Wednesday, March 5th. Imperial Oil’s dividend payout ratio is presently 25.80%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IMO. JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. Wolfe Research downgraded shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.