Assenagon Asset Management S.A. Has $2.12 Million Stock Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Assenagon Asset Management S.A. lowered its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,352 shares of the energy company’s stock after selling 1,629 shares during the period. Assenagon Asset Management S.A.’s holdings in Imperial Oil were worth $2,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets bought a new position in Imperial Oil in the 3rd quarter valued at approximately $28,000. Grove Bank & Trust increased its position in Imperial Oil by 438.0% in the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock valued at $38,000 after acquiring an additional 438 shares during the period. Allworth Financial LP raised its stake in shares of Imperial Oil by 21.0% during the third quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock valued at $95,000 after acquiring an additional 234 shares during the last quarter. Oakworth Capital Inc. acquired a new position in shares of Imperial Oil during the third quarter worth $101,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Imperial Oil in the third quarter worth $137,000. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Performance

IMO stock opened at $71.00 on Thursday. The company has a market capitalization of $36.14 billion, a PE ratio of 10.58 and a beta of 1.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44. Imperial Oil Limited has a twelve month low of $54.74 and a twelve month high of $80.17.

Imperial Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd were given a $0.4304 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Tuesday, December 3rd. Imperial Oil’s payout ratio is 25.34%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IMO. Wolfe Research downgraded shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Scotiabank reiterated a “sector perform” rating and set a $110.00 price objective on shares of Imperial Oil in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lowered shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $109.00.

Imperial Oil Company Profile

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.