Zurcher Kantonalbank Zurich Cantonalbank Decreases Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,386 shares of the energy company’s stock after selling 2,524 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Imperial Oil were worth $8,409,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. RFP Financial Group LLC acquired a new stake in shares of Imperial Oil during the 2nd quarter worth about $25,000. BNP Paribas Financial Markets purchased a new stake in shares of Imperial Oil during the 3rd quarter worth approximately $28,000. Grove Bank & Trust boosted its holdings in shares of Imperial Oil by 438.0% in the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock valued at $38,000 after buying an additional 438 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of Imperial Oil by 45.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 718 shares of the energy company’s stock valued at $49,000 after buying an additional 225 shares during the last quarter. Finally, Allworth Financial LP raised its stake in Imperial Oil by 21.0% during the 3rd quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock worth $95,000 after acquiring an additional 234 shares in the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Stock Performance

Imperial Oil stock opened at $73.92 on Monday. Imperial Oil Limited has a 1-year low of $52.97 and a 1-year high of $80.17. The company has a market capitalization of $38.28 billion, a P/E ratio of 11.02 and a beta of 1.44. The company has a current ratio of 1.44, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17.

Imperial Oil Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders 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 2.33%. Imperial Oil’s payout ratio is currently 26.53%.

Analyst Ratings Changes

Several research firms have issued reports on IMO. Scotiabank reaffirmed a “sector perform” rating and set a $110.00 price objective on shares of Imperial Oil in a report on Wednesday, September 25th. StockNews.com downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $109.00.

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.