Swiss National Bank Trims Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

Swiss National Bank reduced its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMOFree Report) (TSE:IMO) by 11.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 684,988 shares of the energy company’s stock after selling 84,500 shares during the period. Swiss National Bank owned about 0.12% of Imperial Oil worth $42,548,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. BNP Paribas Arbitrage SNC purchased a new position in shares of Imperial Oil in the third quarter worth $35,000. Allworth Financial LP grew its stake in Imperial Oil by 176.6% during the 3rd quarter. Allworth Financial LP now owns 888 shares of the energy company’s stock valued at $55,000 after purchasing an additional 567 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Imperial Oil by 229.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,724 shares of the energy company’s stock worth $84,000 after purchasing an additional 1,200 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Imperial Oil by 8.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,713 shares of the energy company’s stock worth $139,000 after purchasing an additional 210 shares during the period. Finally, State of Wyoming increased its holdings in Imperial Oil by 21.7% in the 2nd quarter. State of Wyoming now owns 2,900 shares of the energy company’s stock worth $148,000 after buying an additional 517 shares during the period. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Down 0.6 %

Shares of IMO stock opened at $57.17 on Thursday. Imperial Oil Limited has a 12 month low of $44.22 and a 12 month high of $63.07. The company has a current ratio of 1.38, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. The stock has a market cap of $30.63 billion, a price-to-earnings ratio of 9.12 and a beta of 1.47.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be issued a dividend of $0.4473 per share. The ex-dividend date of this dividend is Friday, March 1st. This is a boost from Imperial Oil’s previous quarterly dividend of $0.36. This represents a $1.79 dividend on an annualized basis and a dividend yield of 3.13%. Imperial Oil’s dividend payout ratio is currently 23.45%.

Analysts Set New Price Targets

IMO has been the topic of several analyst reports. Royal Bank of Canada raised their target price on Imperial Oil from $80.00 to $85.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 7th. The Goldman Sachs Group cut shares of Imperial Oil from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 8th. StockNews.com cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Finally, JPMorgan Chase & Co. upgraded shares of Imperial Oil from an “underweight” rating to a “neutral” rating in a research report on Friday, December 8th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $85.33.

Check Out Our Latest Stock Report on Imperial Oil

About Imperial Oil

(Free Report)

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 for, and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment is involved in the transportation and refining of crude oil, blending of refined products, and the distribution and marketing of refined products.

Featured Stories

Want to see what other hedge funds are holding IMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Imperial Oil Limited (NYSEAMERICAN:IMOFree Report) (TSE:IMO).

Institutional Ownership by Quarter for Imperial Oil (NYSEAMERICAN:IMO)

Receive News & Ratings for Imperial Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Imperial Oil and related companies with MarketBeat.com's FREE daily email newsletter.