Fisher Asset Management LLC Reduces Stock Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Fisher Asset Management LLC reduced its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 25.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,983 shares of the energy company’s stock after selling 1,380 shares during the quarter. Fisher Asset Management LLC’s holdings in Imperial Oil were worth $281,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. RFP Financial Group LLC purchased a new position in Imperial Oil during the 2nd quarter valued at about $25,000. Grove Bank & Trust lifted its holdings in shares of Imperial Oil by 438.0% during the third quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock valued at $38,000 after purchasing an additional 438 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Imperial Oil by 45.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 718 shares of the energy company’s stock worth $49,000 after purchasing an additional 225 shares in the last quarter. Allworth Financial LP grew its stake in shares of Imperial Oil by 21.0% in the 3rd quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock worth $95,000 after buying an additional 234 shares during the last quarter. Finally, Oakworth Capital Inc. purchased a new stake in shares of Imperial Oil in the 3rd quarter worth approximately $101,000. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Price Performance

Shares of IMO stock opened at $73.92 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17. The firm has a market cap of $38.28 billion, a PE ratio of 11.02 and a beta of 1.44. Imperial Oil Limited has a 1 year low of $52.97 and a 1 year high of $80.17.

Imperial Oil Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be given a $0.4304 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.33%. Imperial Oil’s payout ratio is currently 26.53%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Scotiabank reiterated a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Imperial Oil currently has an average rating of “Hold” and an average price target of $109.00.

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.