Manning & Napier Advisors LLC Lowers Stock Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Manning & Napier Advisors LLC lowered its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 43,279 shares of the energy company’s stock after selling 1,589 shares during the period. Manning & Napier Advisors LLC’s holdings in Imperial Oil were worth $2,666,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in Imperial Oil during the third quarter worth approximately $28,000. Winch Advisory Services LLC acquired a new position in shares of Imperial Oil during the fourth quarter valued at approximately $26,000. Grove Bank & Trust raised its holdings in shares of Imperial Oil by 438.0% during the third 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 last quarter. Allworth Financial LP raised its holdings 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. Finally, Oakworth Capital Inc. acquired a new position in shares of Imperial Oil during the third quarter valued at approximately $101,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

IMO has been the subject of a number of research analyst reports. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. cut 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 issued a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $109.00.

Imperial Oil Stock Up 1.8 %

NYSEAMERICAN:IMO opened at $71.45 on Friday. Imperial Oil Limited has a one year low of $55.82 and a one year high of $80.17. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $36.37 billion, a P/E ratio of 10.65 and a beta of 1.45.

Imperial Oil Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd were given a $0.4304 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.72 annualized dividend and a yield of 2.41%. Imperial Oil’s payout ratio is 25.34%.

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.