Imperial Oil Limited $IMO Stake Lowered by First Eagle Investment Management LLC

First Eagle Investment Management LLC lessened its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,143,872 shares of the energy company’s stock after selling 347,325 shares during the quarter. Imperial Oil accounts for approximately 3.3% of First Eagle Investment Management LLC’s holdings, making the stock its 7th biggest position. First Eagle Investment Management LLC owned approximately 4.05% of Imperial Oil worth $1,826,183,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in shares of Imperial Oil by 13.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 84,287 shares of the energy company’s stock valued at $7,648,000 after acquiring an additional 10,299 shares during the last quarter. MAI Capital Management grew its holdings in shares of Imperial Oil by 2,776.1% in the third quarter. MAI Capital Management now owns 10,929 shares of the energy company’s stock worth $992,000 after acquiring an additional 10,549 shares during the period. Scotia Capital Inc. increased its position in 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 acquiring an additional 7,940 shares during the last quarter. Westerkirk Capital Inc. bought a new position in Imperial Oil in the second quarter valued at about $852,000. Finally, Vise Technologies Inc. purchased a new position in shares of Imperial Oil in the second quarter worth approximately $1,235,000. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Stock Performance

Shares of IMO opened at $118.81 on Tuesday. 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 12-month low of $58.76 and a 12-month high of $123.52. The business’s fifty day moving average price is $102.85 and its 200 day moving average price is $95.18. The stock has a market capitalization of $57.46 billion, a PE ratio of 25.94 and a beta of 0.66.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 5th will be issued a $0.87 dividend. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. Imperial Oil’s dividend payout ratio is currently 31.26%.

Analyst Ratings Changes

A number of equities analysts have weighed in on IMO shares. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a research report on Monday, February 23rd. Raymond James Financial lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Monday, December 8th. BMO Capital Markets downgraded shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. Finally, 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, February 23rd. Five equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Strong Sell” and an average price target of $116.00.

Imperial Oil Company 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.