Imperial Oil Limited $IMO Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 18.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,053,989 shares of the energy company’s stock after acquiring an additional 318,696 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.40% of Imperial Oil worth $163,413,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. TD Asset Management Inc increased its stake in shares of Imperial Oil by 1.0% in the 1st quarter. TD Asset Management Inc now owns 4,873,843 shares of the energy company’s stock valued at $352,014,000 after purchasing an additional 47,898 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Imperial Oil by 395.8% in the first quarter. Goldman Sachs Group Inc. now owns 4,546,520 shares of the energy company’s stock valued at $328,804,000 after purchasing an additional 3,629,568 shares during the period. Bank of Montreal Can increased its position in shares of Imperial Oil by 16.2% in the second quarter. Bank of Montreal Can now owns 3,235,443 shares of the energy company’s stock valued at $257,194,000 after buying an additional 451,369 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Imperial Oil by 54.7% during the 1st quarter. Mackenzie Financial Corp now owns 690,024 shares of the energy company’s stock worth $49,842,000 after buying an additional 243,894 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Imperial Oil by 273.2% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 658,949 shares of the energy company’s stock worth $47,607,000 after buying an additional 482,393 shares during the period. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Price Performance

NYSEAMERICAN:IMO opened at $93.44 on Friday. Imperial Oil Limited has a one year low of $58.76 and a one year high of $96.09. The stock has a market cap of $46.43 billion, a PE ratio of 14.40 and a beta of 0.83. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.58. The stock has a 50 day moving average price of $90.12 and a 200 day moving average price of $82.55.

Imperial Oil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Wednesday, December 3rd. Imperial Oil’s payout ratio is currently 31.87%.

Analysts Set New Price Targets

Several research firms have issued reports on IMO. Tudor Pickering downgraded shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research note on Tuesday. Cibc World Mkts cut Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Imperial Oil in a report on Wednesday. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Imperial Oil in a research note on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $115.00.

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.