Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 10.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 217,311 shares of the energy company’s stock after selling 25,993 shares during the quarter. Bank of New York Mellon Corp’s holdings in Imperial Oil were worth $15,716,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wayfinding Financial LLC bought a new stake in Imperial Oil in the first quarter worth approximately $26,000. Group One Trading LLC increased its holdings in shares of Imperial Oil by 29.7% during the 4th quarter. Group One Trading LLC now owns 755 shares of the energy company’s stock valued at $47,000 after acquiring an additional 173 shares during the last quarter. Continuum Advisory LLC acquired a new stake in Imperial Oil in the 1st quarter worth approximately $71,000. AdvisorNet Financial Inc lifted its stake in shares of Imperial Oil by 104.0% in the first quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company’s stock worth $92,000 after buying an additional 650 shares during the last quarter. Finally, Pacifica Partners Inc. grew its stake in Imperial Oil by 141.1% in the 1st quarter. Pacifica Partners Inc. now owns 2,440 shares of the energy company’s stock valued at $167,000 after buying an additional 1,428 shares during the last quarter. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

Shares of NYSEAMERICAN IMO opened at $82.31 on Friday. The stock has a market capitalization of $41.90 billion, a PE ratio of 12.30 and a beta of 0.89. Imperial Oil Limited has a fifty-two week low of $58.76 and a fifty-two week high of $83.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.22. The business has a fifty day moving average price of $77.14 and a two-hundred day moving average price of $70.87.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 4th were paid a $0.523 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $2.09 annualized dividend and a dividend yield of 2.54%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.50. Imperial Oil’s dividend payout ratio is currently 31.87%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IMO. Desjardins cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 3rd. Raymond James Financial cut shares of Imperial Oil from a “moderate buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $101.00 price objective on shares of Imperial Oil in a research note on Thursday, April 3rd. The Goldman Sachs Group cut shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. Finally, Wolfe Research raised Imperial Oil from a “peer perform” rating to an “outperform” rating in a research note on Monday, April 21st. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $105.50.

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.