UniSuper Management Pty Ltd Sells 1,400 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

UniSuper Management Pty Ltd cut its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 28.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,500 shares of the energy company’s stock after selling 1,400 shares during the period. UniSuper Management Pty Ltd’s holdings in Imperial Oil were worth $216,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Sava Infond d.o.o. bought a new stake in shares of Imperial Oil during the 4th quarter valued at approximately $209,000. JPMorgan Chase & Co. boosted its position in Imperial Oil by 29.0% during the fourth quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company’s stock valued at $58,212,000 after acquiring an additional 212,707 shares during the last quarter. Korea Investment CORP grew its stake in Imperial Oil by 73.6% during the fourth quarter. Korea Investment CORP now owns 110,891 shares of the energy company’s stock worth $6,831,000 after purchasing an additional 47,000 shares during the period. Mufg Securities Canada LTD. increased its stake in shares of Imperial Oil by 68.9% in the 4th quarter. Mufg Securities Canada LTD. now owns 247,769 shares of the energy company’s stock valued at $15,260,000 after acquiring an additional 101,056 shares in the last quarter. Finally, TD Asset Management Inc. increased its stake in Imperial Oil by 2.2% in the fourth quarter. TD Asset Management Inc. now owns 4,825,945 shares of the energy company’s stock valued at $297,268,000 after purchasing an additional 105,970 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IMO. Scotiabank upgraded Imperial Oil to a “hold” rating in a report on Wednesday, March 19th. Wolfe Research downgraded shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. downgraded shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group lowered shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Imperial Oil presently has an average rating of “Hold” and an average price target of $109.00.

Imperial Oil Price Performance

IMO opened at $72.32 on Tuesday. The business’s fifty day moving average price is $69.41. The stock has a market cap of $36.81 billion, a P/E ratio of 10.97 and a beta of 1.44. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a 1 year low of $60.95 and a 1 year high of $80.17.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th will be paid a $0.4972 dividend. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 5th. This represents a $1.99 annualized dividend and a yield of 2.75%. Imperial Oil’s dividend payout ratio (DPR) is 25.80%.

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.