Grantham Mayo Van Otterloo & Co. LLC Has $1.58 Million Position in Imperial Oil Limited $IMO

Grantham Mayo Van Otterloo & Co. LLC lessened its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 36.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,449 shares of the energy company’s stock after selling 10,064 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Imperial Oil were worth $1,582,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bank of America Corp DE raised its holdings in shares of Imperial Oil by 31.6% during the 2nd quarter. Bank of America Corp DE now owns 2,945,528 shares of the energy company’s stock valued at $234,111,000 after purchasing an additional 707,985 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Imperial Oil by 219.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 532,311 shares of the energy company’s stock valued at $42,668,000 after purchasing an additional 365,936 shares during the last quarter. Fiera Capital Corp boosted its holdings 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 purchasing an additional 282,949 shares in the last quarter. Geode Capital Management LLC increased its position in Imperial Oil by 20.5% during the second quarter. Geode Capital Management LLC now owns 1,448,565 shares of the energy company’s stock worth $116,420,000 after buying an additional 246,634 shares during the last quarter. Finally, QV Investors Inc. acquired a new position in Imperial Oil during the third quarter worth $19,893,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IMO. BMO Capital Markets cut Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Royal Bank Of Canada lowered Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price objective on the stock. in a report on Monday, February 23rd. Raymond James Financial downgraded Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Monday, December 8th. Finally, TD Securities restated a “sell” rating on shares of Imperial Oil in a report on Monday, February 23rd. Five investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and an average price target of $116.00.

Imperial Oil Stock Performance

Shares of IMO opened at $117.90 on Wednesday. The company has a market capitalization of $57.02 billion, a PE ratio of 25.74 and a beta of 0.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.27 and a quick ratio of 0.94. Imperial Oil Limited has a one year low of $58.76 and a one year high of $123.52. The company’s fifty day moving average price is $106.79 and its 200 day moving average price is $96.64.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th will be given a $0.87 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.48 annualized dividend and a yield of 3.0%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. Imperial Oil’s dividend payout ratio (DPR) is presently 38.69%.

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.