Advisors Asset Management Inc. Sells 302 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Advisors Asset Management Inc. lowered its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 5.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,580 shares of the energy company’s stock after selling 302 shares during the quarter. Advisors Asset Management Inc.’s holdings in Imperial Oil were worth $393,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. TD Asset Management Inc increased its stake in Imperial Oil by 12.2% in the second quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock valued at $258,817,000 after acquiring an additional 412,600 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Imperial Oil by 9.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,107,250 shares of the energy company’s stock valued at $148,235,000 after purchasing an additional 187,158 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Imperial Oil by 10,896.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock worth $59,135,000 after buying an additional 859,288 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Imperial Oil by 14.7% during the 2nd quarter. Toronto Dominion Bank now owns 822,478 shares of the energy company’s stock worth $56,134,000 after buying an additional 105,205 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in Imperial Oil in the 2nd quarter valued at $40,729,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Imperial Oil Stock Down 0.7 %

IMO opened at $73.14 on Friday. The firm has a market cap of $37.88 billion, a price-to-earnings ratio of 10.90 and a beta of 1.44. Imperial Oil Limited has a 52 week low of $52.97 and a 52 week high of $80.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.23.

Imperial Oil Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be given a $0.4304 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.35%. Imperial Oil’s dividend payout ratio is 26.53%.

Imperial Oil 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.