Imperial Oil Limited $IMO Shares Sold by Meixler Investment Management Ltd.

Meixler Investment Management Ltd. reduced its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 12.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 14,229 shares of the energy company’s stock after selling 2,018 shares during the period. Meixler Investment Management Ltd.’s holdings in Imperial Oil were worth $1,131,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. purchased a new stake in shares of Imperial Oil in the second quarter valued at about $28,000. Wayfinding Financial LLC acquired a new position in Imperial Oil in the 1st quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Imperial Oil by 88.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company’s stock valued at $39,000 after buying an additional 255 shares during the period. Banque Transatlantique SA acquired a new stake in shares of Imperial Oil during the 1st quarter worth approximately $87,000. Finally, Lingohr Asset Management GmbH purchased a new stake in shares of Imperial Oil during the 2nd quarter valued at approximately $204,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Trading Down 3.3%

IMO opened at $88.21 on Friday. The business has a fifty day moving average price of $90.03 and a 200 day moving average price of $81.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.34. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $96.09. The stock has a market capitalization of $43.83 billion, a price-to-earnings ratio of 13.59 and a beta of 0.83.

Imperial Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, December 3rd. Imperial Oil’s dividend payout ratio is presently 31.87%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank Of Canada increased their price objective on Imperial Oil from $108.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 25th. Zacks Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Wolfe Research lowered shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 23rd. TD Securities lowered shares of Imperial Oil from a “hold” rating to a “sell” rating in a research note on Tuesday, September 30th. Finally, Cibc World Mkts downgraded shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. One research 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’s stock. According to data from MarketBeat, Imperial Oil currently has an average rating of “Reduce” and an average target price 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.