Quantbot Technologies LP Trims Stock Position in Imperial Oil Limited $IMO

Quantbot Technologies LP trimmed its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 88.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,136 shares of the energy company’s stock after selling 24,446 shares during the quarter. Quantbot Technologies LP’s holdings in Imperial Oil were worth $285,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in IMO. Argent Trust Co purchased a new stake in shares of Imperial Oil during the 3rd quarter valued at approximately $2,308,000. Erste Asset Management GmbH lifted its holdings in Imperial Oil by 7.7% in the third quarter. Erste Asset Management GmbH now owns 20,350 shares of the energy company’s stock valued at $1,876,000 after acquiring an additional 1,450 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its position in Imperial Oil by 12.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 3,040 shares of the energy company’s stock worth $276,000 after acquiring an additional 328 shares during the period. MAI Capital Management increased its stake in Imperial Oil by 2,776.1% during 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 last quarter. Finally, Compound Planning Inc. acquired a new stake in Imperial Oil during the third quarter worth $229,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

IMO has been the topic of several recent analyst reports. Raymond James Financial lowered Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Monday, December 8th. TD Securities reissued a “sell” rating on shares of Imperial Oil in a research report on Monday, February 23rd. Royal Bank Of Canada lowered shares of 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. Finally, BMO Capital Markets cut shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Five equities research 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, Imperial Oil currently has an average rating of “Strong Sell” and an average price target of $116.00.

Imperial Oil Stock Down 1.2%

Shares of NYSEAMERICAN IMO opened at $117.90 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $106.79 and its two-hundred day moving average is $96.64. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $123.52. The firm has a market cap of $57.02 billion, a price-to-earnings ratio of 25.74 and a beta of 0.66.

Imperial Oil Increases Dividend

The company 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. The ex-dividend date is Thursday, March 5th. This represents a $3.48 annualized dividend and a dividend yield of 3.0%. This is a boost 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.