Intech Investment Management LLC Sells 18,695 Shares of Imperial Oil Limited $IMO

Intech Investment Management LLC lowered its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 19.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 78,591 shares of the energy company’s stock after selling 18,695 shares during the quarter. Intech Investment Management LLC’s holdings in Imperial Oil were worth $7,128,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in Imperial Oil by 13.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 84,287 shares of the energy company’s stock worth $7,648,000 after buying an additional 10,299 shares during the period. Scotia Capital Inc. increased its stake in shares of Imperial Oil by 3.5% during the second quarter. Scotia Capital Inc. now owns 233,736 shares of the energy company’s stock valued at $18,456,000 after buying an additional 7,940 shares during the period. Vise Technologies Inc. bought a new position in shares of Imperial Oil during the second quarter valued at approximately $1,235,000. Westerkirk Capital Inc. bought a new position in shares of Imperial Oil during the second quarter valued at approximately $852,000. Finally, Fiera Capital Corp lifted its stake in Imperial Oil by 1,294.3% in the second quarter. Fiera Capital Corp now owns 304,811 shares of the energy company’s stock worth $24,220,000 after acquiring an additional 282,949 shares during the period. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Performance

Shares of IMO stock opened at $117.30 on Friday. The company’s fifty day moving average price is $102.17 and its 200-day moving average price is $94.77. The stock has a market cap of $56.73 billion, a PE ratio of 25.61 and a beta of 0.70. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.18. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $123.52.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th will be paid a dividend of $0.87 per share. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, March 5th. Imperial Oil’s payout ratio is 31.26%.

Analysts Set New Price Targets

A number of research analysts have issued reports on IMO shares. BMO Capital Markets downgraded shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Raymond James Financial lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Monday, December 8th. Royal Bank Of Canada cut shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price target on the stock. in a research report on Monday. Finally, TD Securities reissued a “sell” rating on shares of Imperial Oil in a research note on Monday. Five equities research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Strong Sell” and an average target price of $116.00.

About Imperial Oil

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.