Hillsdale Investment Management Inc. Reduces Stock Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Hillsdale Investment Management Inc. lessened its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 56.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,400 shares of the energy company’s stock after selling 62,830 shares during the period. Hillsdale Investment Management Inc.’s holdings in Imperial Oil were worth $3,041,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in IMO. FMR LLC lifted its stake in shares of Imperial Oil by 3.7% in the 3rd quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock worth $2,598,604,000 after purchasing an additional 1,331,235 shares during the period. The Manufacturers Life Insurance Company raised its position in Imperial Oil by 8.4% in the third quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company’s stock worth $311,175,000 after acquiring an additional 341,689 shares during the period. Geode Capital Management LLC boosted its stake in shares of Imperial Oil by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company’s stock worth $59,502,000 after acquiring an additional 70,357 shares during the last quarter. National Bank of Canada FI grew its position in shares of Imperial Oil by 13.3% during the 3rd quarter. National Bank of Canada FI now owns 751,038 shares of the energy company’s stock valued at $52,885,000 after acquiring an additional 87,914 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Imperial Oil by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 548,554 shares of the energy company’s stock worth $38,630,000 after purchasing an additional 16,555 shares in the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Stock Down 0.1 %

Shares of NYSEAMERICAN:IMO opened at $71.21 on Friday. The business has a fifty day simple moving average of $68.46. Imperial Oil Limited has a 52 week low of $60.95 and a 52 week high of $80.17. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. The stock has a market cap of $36.25 billion, a PE ratio of 10.81 and a beta of 1.44.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th will be issued a dividend of $0.4972 per share. This represents a $1.99 annualized dividend and a yield of 2.79%. The ex-dividend date is Wednesday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. Imperial Oil’s dividend payout ratio is presently 25.80%.

Wall Street Analysts Forecast Growth

IMO has been the subject of a number of recent research reports. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. lowered shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $109.00.

About Imperial Oil

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.