First Eagle Investment Management LLC Lowers Stake in Imperial Oil Limited $IMO

First Eagle Investment Management LLC reduced its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,491,197 shares of the energy company’s stock after selling 597,160 shares during the quarter. Imperial Oil makes up approximately 3.2% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 3rd biggest position. First Eagle Investment Management LLC owned approximately 4.03% of Imperial Oil worth $1,630,193,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. TD Asset Management Inc lifted its position in shares of Imperial Oil by 1.0% in the first quarter. TD Asset Management Inc now owns 4,873,843 shares of the energy company’s stock valued at $352,014,000 after acquiring an additional 47,898 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Imperial Oil by 395.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,546,520 shares of the energy company’s stock worth $328,804,000 after acquiring an additional 3,629,568 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Imperial Oil by 16.2% in the second quarter. Bank of Montreal Can now owns 3,235,443 shares of the energy company’s stock valued at $257,194,000 after purchasing an additional 451,369 shares during the period. Mackenzie Financial Corp raised its stake in shares of Imperial Oil by 54.7% during the 1st quarter. Mackenzie Financial Corp now owns 690,024 shares of the energy company’s stock valued at $49,842,000 after buying an additional 243,894 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Imperial Oil by 273.2% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 658,949 shares of the energy company’s stock worth $47,607,000 after buying an additional 482,393 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Trading Up 2.1%

Shares of Imperial Oil stock opened at $90.89 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.34. The stock’s 50 day simple moving average is $90.07 and its 200-day simple moving average is $82.25. The stock has a market cap of $45.16 billion, a P/E ratio of 14.00 and a beta of 0.83. Imperial Oil Limited has a 1-year low of $58.76 and a 1-year high of $96.09.

Imperial Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Wednesday, December 3rd will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, December 3rd. Imperial Oil’s dividend payout ratio is presently 31.87%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IMO shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Imperial Oil in a research note on Monday, August 4th. Tudor Pickering downgraded shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reissued a “sector perform” rating on shares of Imperial Oil in a report on Wednesday. Finally, Zacks Research downgraded Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, Imperial Oil has a consensus rating of “Reduce” and a consensus target price of $115.00.

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.