Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. cut its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 8.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,400 shares of the energy company’s stock after selling 300 shares during the quarter. Bridges Investment Management Inc.’s holdings in Imperial Oil were worth $240,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc increased its stake in Imperial Oil by 201.0% in the first quarter. TD Asset Management Inc now owns 3,384,060 shares of the energy company’s stock valued at $233,640,000 after purchasing an additional 2,259,766 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in 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 valued at $59,135,000 after acquiring an additional 859,288 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Imperial Oil in the 2nd quarter valued at about $40,729,000. Capital World Investors raised its stake in Imperial Oil by 134.0% during the 1st quarter. Capital World Investors now owns 747,929 shares of the energy company’s stock valued at $51,588,000 after acquiring an additional 428,252 shares during the last quarter. Finally, SIR Capital Management L.P. acquired a new stake in Imperial Oil during the 2nd quarter worth approximately $11,405,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Down 1.0 %

IMO opened at $73.26 on Friday. The firm has a market cap of $38.71 billion, a P/E ratio of 10.92 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 current ratio of 1.44, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17.

Imperial Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be issued a $0.4304 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 annualized dividend and a yield of 2.35%. Imperial Oil’s dividend payout ratio (DPR) is presently 26.53%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Scotiabank reaffirmed a “sector perform” rating and issued a $110.00 target price on shares of Imperial Oil in a report on Wednesday, September 25th. StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Wolfe Research initiated coverage on Imperial Oil in a research note on Thursday, July 18th. They set an “outperform” rating and a $108.00 target price for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.