Alberta Investment Management Corp Sells 98,090 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Alberta Investment Management Corp lowered its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 15.9% in the fourth quarter, Holdings Channel reports. The fund owned 517,207 shares of the energy company’s stock after selling 98,090 shares during the quarter. Alberta Investment Management Corp’s holdings in Imperial Oil were worth $31,859,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in Imperial Oil during the 3rd quarter valued at approximately $28,000. Winch Advisory Services LLC acquired a new stake in shares of Imperial Oil during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Imperial Oil in the 4th quarter worth $41,000. Allworth Financial LP lifted its holdings in shares of Imperial Oil by 21.0% in the 3rd quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock worth $95,000 after purchasing an additional 234 shares in the last quarter. Finally, Oakworth Capital Inc. bought a new position in Imperial Oil during the 3rd quarter valued at $101,000. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Up 2.7 %

IMO stock opened at $71.09 on Wednesday. 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 stock has a market cap of $36.19 billion, a price-to-earnings ratio of 10.51 and a beta of 1.44. Imperial Oil Limited has a twelve month low of $58.60 and a twelve month high of $80.17.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th will be paid a $0.4972 dividend. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. This represents a $1.99 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Wednesday, March 5th. Imperial Oil’s dividend payout ratio is currently 25.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IMO shares. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $109.00.

Imperial Oil 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.