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

Triasima Portfolio Management inc. lowered its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 15.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,849 shares of the energy company’s stock after selling 16,901 shares during the quarter. Imperial Oil comprises about 1.1% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 24th biggest position. 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 hedge funds and other institutional investors have also modified their holdings of IMO. FMR LLC raised its holdings in Imperial Oil by 3.7% in the 3rd quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock worth $2,598,604,000 after acquiring an additional 1,331,235 shares during the period. The Manufacturers Life Insurance Company raised its holdings 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 worth $311,175,000 after acquiring an additional 341,689 shares during the period. Point72 Europe London LLP raised its holdings in Imperial Oil by 131.2% in the 3rd quarter. Point72 Europe London LLP now owns 356,972 shares of the energy company’s stock worth $25,134,000 after acquiring an additional 202,590 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Imperial Oil by 9.7% in 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 acquiring an additional 187,158 shares during the period. Finally, Bridgewater Associates LP raised its holdings in Imperial Oil by 522.8% in the 3rd quarter. Bridgewater Associates LP now owns 201,126 shares of the energy company’s stock worth $14,166,000 after acquiring an additional 168,831 shares during the period. Institutional investors own 20.74% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of 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 research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $109.00.

Imperial Oil Trading Up 0.4 %

Shares of Imperial Oil stock opened at $66.71 on Friday. 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 Limited has a twelve month low of $56.52 and a twelve month high of $80.17. The stock has a market cap of $33.96 billion, a PE ratio of 10.12 and a beta of 1.44.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.4972 per share. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. 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. Imperial Oil’s payout ratio is 25.80%.

Imperial Oil Company 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.