Jupiter Asset Management Ltd. Sells 46,032 Shares of Imperial Oil Limited $IMO

Jupiter Asset Management Ltd. reduced its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 85.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,656 shares of the energy company’s stock after selling 46,032 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Imperial Oil were worth $694,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. IFG Advisory LLC grew its holdings in Imperial Oil by 0.4% in the 2nd quarter. IFG Advisory LLC now owns 32,359 shares of the energy company’s stock valued at $2,572,000 after buying an additional 136 shares in the last quarter. Gold Investment Management Ltd. grew its stake in shares of Imperial Oil by 0.6% in the third quarter. Gold Investment Management Ltd. now owns 28,322 shares of the energy company’s stock valued at $2,568,000 after acquiring an additional 161 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Imperial Oil by 0.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 21,470 shares of the energy company’s stock valued at $1,949,000 after acquiring an additional 166 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Imperial Oil by 64.8% during the third quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock worth $40,000 after acquiring an additional 169 shares during the period. Finally, NewEdge Advisors LLC raised its stake in Imperial Oil by 1.5% in the 2nd quarter. NewEdge Advisors LLC now owns 12,071 shares of the energy company’s stock worth $959,000 after purchasing an additional 184 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Price Performance

Shares of NYSEAMERICAN:IMO opened at $120.69 on Monday. The firm has a 50 day moving average of $99.04 and a 200-day moving average of $93.77. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $123.52. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $58.36 billion, a PE ratio of 26.35 and a beta of 0.70.

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. The ex-dividend date is Thursday, March 5th. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 annualized dividend and a yield of 2.9%. Imperial Oil’s dividend payout ratio is currently 31.26%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IMO. BMO Capital Markets downgraded shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Imperial Oil in a research note on Wednesday, November 5th. TD Securities reissued a “sell” rating on shares of Imperial Oil in a research report on Tuesday, November 4th. Finally, Raymond James Financial lowered Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Monday, December 8th. Six equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Imperial Oil has an average rating of “Reduce” and a consensus price target of $115.00.

Imperial Oil Profile

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.