Imperial Oil (NYSEAMERICAN:IMO) Shares Down 5% – What’s Next?

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO)’s share price fell 5% on Thursday . The stock traded as low as $69.42 and last traded at $69.70. 225,623 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 407,033 shares. The stock had previously closed at $73.35.

Analyst Ratings Changes

A number of equities analysts have recently commented 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 downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th.

Imperial Oil Trading Down 1.2 %

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 firm has a market capitalization of $34.57 billion, a PE ratio of 10.05 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 dividend of $0.4304 per share. This represents a $1.72 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Tuesday, December 3rd. Imperial Oil’s payout ratio is 26.38%.

Institutional Investors Weigh In On Imperial Oil

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its stake in Imperial Oil by 3.7% in the third quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock valued at $2,598,604,000 after purchasing an additional 1,331,235 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Imperial Oil by 10,896.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock valued at $59,135,000 after purchasing an additional 859,288 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Imperial Oil during the second quarter worth approximately $40,729,000. TD Asset Management Inc raised its stake in Imperial Oil by 12.2% during the second quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock worth $258,817,000 after purchasing an additional 412,600 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Imperial Oil by 8.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company’s stock valued at $311,175,000 after purchasing an additional 341,689 shares during the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

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.