Public Sector Pension Investment Board Sells 826 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Public Sector Pension Investment Board decreased its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 3.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 24,568 shares of the energy company’s stock after selling 826 shares during the quarter. Public Sector Pension Investment Board’s holdings in Imperial Oil were worth $1,730,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. RFP Financial Group LLC acquired a new position in Imperial Oil in the 2nd quarter valued at about $25,000. BNP Paribas Financial Markets bought a new position in shares of Imperial Oil during the third quarter worth approximately $28,000. Grove Bank & Trust lifted its holdings in Imperial Oil by 438.0% during the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock worth $38,000 after purchasing an additional 438 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in Imperial Oil by 45.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 718 shares of the energy company’s stock valued at $49,000 after purchasing an additional 225 shares during the period. Finally, Allworth Financial LP grew its holdings in Imperial Oil by 21.0% in the 3rd quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock valued at $95,000 after buying an additional 234 shares in the last quarter. 20.74% of the stock is owned by institutional investors and hedge funds.

Imperial Oil Price Performance

Shares of IMO stock opened at $72.89 on Friday. Imperial Oil Limited has a 12 month low of $52.97 and a 12 month high of $80.17. The company has a current ratio of 1.44, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The stock has a market cap of $37.75 billion, a PE ratio of 10.86 and a beta of 1.42.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be given a $0.4304 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.36%. Imperial Oil’s dividend payout ratio (DPR) is presently 26.38%.

Analysts Set New Price Targets

IMO has been the topic of several recent research reports. StockNews.com cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Imperial Oil has a consensus rating of “Hold” and an average target price 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.