Fisher Asset Management LLC Cuts Stock Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Fisher Asset Management LLC lowered its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 25.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,983 shares of the energy company’s stock after selling 1,380 shares during the quarter. Fisher Asset Management LLC’s holdings in Imperial Oil were worth $281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Manning & Napier Advisors LLC purchased a new position in shares of Imperial Oil in the second quarter valued at $3,064,000. Fiera Capital Corp increased its holdings in shares of Imperial Oil by 262.5% in the 2nd quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock worth $6,511,000 after buying an additional 69,121 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Imperial Oil by 17.4% in the 3rd quarter. Ritholtz Wealth Management now owns 59,726 shares of the energy company’s stock worth $4,208,000 after buying an additional 8,858 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Imperial Oil by 855.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 35,981 shares of the energy company’s stock valued at $2,534,000 after buying an additional 32,214 shares in the last quarter. Finally, M&G Plc bought a new position in shares of Imperial Oil in the 2nd quarter valued at about $627,000. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

Shares of NYSEAMERICAN IMO opened at $73.92 on Monday. Imperial Oil Limited has a 1 year low of $52.97 and a 1 year high of $80.17. The stock has a market capitalization of $38.28 billion, a price-to-earnings ratio of 11.02 and a beta of 1.44. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17.

Imperial Oil Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.4304 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Tuesday, December 3rd. Imperial Oil’s payout ratio is currently 26.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com cut Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Scotiabank reissued a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a research report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.