Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 20.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 732,295 shares of the energy company’s stock after selling 186,917 shares during the quarter. JPMorgan Chase & Co. owned 0.14% of Imperial Oil worth $51,590,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of IMO. Principal Financial Group Inc. lifted its position in shares of Imperial Oil by 29.6% during the 2nd quarter. Principal Financial Group Inc. now owns 17,542 shares of the energy company’s stock worth $1,196,000 after purchasing an additional 4,002 shares during the last quarter. Caprock Group LLC acquired a new position in shares of Imperial Oil during the 2nd quarter worth about $530,000. Triasima Portfolio Management inc. raised its position in shares of Imperial Oil by 18.7% during the 2nd quarter. Triasima Portfolio Management inc. now owns 379,050 shares of the energy company’s stock worth $25,833,000 after acquiring an additional 59,750 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in Imperial Oil by 710.5% in the second quarter. Royal London Asset Management Ltd. now owns 91,485 shares of the energy company’s stock valued at $6,244,000 after purchasing an additional 80,197 shares in the last quarter. Finally, SIR Capital Management L.P. purchased a new position in Imperial Oil in the second quarter valued at approximately $11,405,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

Shares of Imperial Oil stock opened at $62.41 on Friday. Imperial Oil Limited has a 1 year low of $54.58 and a 1 year high of $80.17. The company has a current ratio of 1.44, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The firm has a market cap of $31.99 billion, a price-to-earnings ratio of 9.30 and a beta of 1.42.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.4304 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a yield of 2.76%. Imperial Oil’s payout ratio is 26.38%.

Analysts Set New Price Targets

A number of research firms recently commented on IMO. JPMorgan Chase & Co. downgraded shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday. Finally, Scotiabank restated a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, Imperial Oil presently has a consensus 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.