Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.7% during the fourth quarter, Holdings Channel reports. The firm owned 2,908,560 shares of the energy company’s stock after selling 80,046 shares during the period. Bank of Montreal Can’s holdings in Imperial Oil were worth $179,024,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. BNP Paribas Financial Markets purchased a new stake in shares of Imperial Oil in the 3rd quarter valued at about $28,000. Winch Advisory Services LLC acquired a new position in Imperial Oil during the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Imperial Oil in the fourth quarter valued at approximately $41,000. Allworth Financial LP boosted its holdings in shares of Imperial Oil by 21.0% in the fourth quarter. Allworth Financial LP now owns 1,630 shares of the energy company’s stock valued at $100,000 after acquiring an additional 283 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Imperial Oil during the third quarter worth approximately $137,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Trading Down 2.5 %

NYSEAMERICAN IMO opened at $61.90 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.23. The stock’s 50 day simple moving average is $69.44. The firm has a market cap of $31.51 billion, a PE ratio of 9.39 and a beta of 1.44. Imperial Oil Limited has a 12-month low of $59.80 and a 12-month high of $80.17.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th were issued a dividend of $0.4972 per share. This represents a $1.99 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. Imperial Oil’s dividend payout ratio is currently 25.80%.

Analysts Set New Price Targets

IMO has been the subject of several research reports. The Goldman Sachs Group downgraded shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. Wolfe Research cut shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 price target on shares of Imperial Oil in a report on Thursday, April 3rd. JPMorgan Chase & Co. downgraded Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. Finally, Scotiabank raised Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $106.33.

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.