Triasima Portfolio Management inc. Sells 16,901 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Triasima Portfolio Management inc. trimmed its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,849 shares of the energy company’s stock after selling 16,901 shares during the period. Imperial Oil accounts for about 1.1% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 24th biggest holding. Triasima Portfolio Management inc.’s holdings in Imperial Oil were worth $5,719,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC raised its stake in shares of Imperial Oil by 3.7% during the third quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock worth $2,598,604,000 after buying an additional 1,331,235 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in 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 valued at $311,175,000 after purchasing an additional 341,689 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Imperial Oil by 9.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,107,250 shares of the energy company’s stock valued at $148,235,000 after purchasing an additional 187,158 shares in the last quarter. Geode Capital Management LLC increased its stake 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 valued at $59,502,000 after purchasing an additional 70,357 shares in the last quarter. Finally, National Bank of Canada FI increased 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 purchasing an additional 87,914 shares in the last quarter. 20.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Imperial Oil Trading Up 0.4 %

Imperial Oil stock opened at $66.71 on Friday. The company has a market capitalization of $33.96 billion, a PE ratio of 10.12 and a beta of 1.44. Imperial Oil Limited has a twelve month low of $56.52 and a twelve 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th will be issued a $0.4972 dividend. This represents a $1.99 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. Imperial Oil’s dividend payout ratio is 25.80%.

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.