Rempart Asset Management Inc. Lowers Stock Position in Imperial Oil Limited $IMO

Rempart Asset Management Inc. lessened its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 22.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,050 shares of the energy company’s stock after selling 900 shares during the period. Rempart Asset Management Inc.’s holdings in Imperial Oil were worth $242,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings 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. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position 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 valued at $47,607,000 after purchasing an additional 482,393 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Imperial Oil by 1,233.1% during the first quarter. Canada Pension Plan Investment Board now owns 498,056 shares of the energy company’s stock worth $35,983,000 after purchasing an additional 460,696 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Imperial Oil by 54.7% in the 1st quarter. Mackenzie Financial Corp now owns 690,024 shares of the energy company’s stock worth $49,842,000 after purchasing an additional 243,894 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Imperial Oil during the 1st quarter valued at about $13,673,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Analysts Set New Price Targets

IMO has been the subject of a number of recent research reports. Zacks Research upgraded Imperial Oil from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. BMO Capital Markets restated an “outperform” rating on shares of Imperial Oil in a report on Monday, August 4th. Tudor Pickering cut shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. 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. Finally, Wolfe Research downgraded shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $115.00.

Imperial Oil Trading Down 0.1%

NYSEAMERICAN:IMO opened at $93.26 on Monday. The firm has a market capitalization of $46.81 billion, a P/E ratio of 14.37 and a beta of 0.94. The company has a quick ratio of 1.34, a current ratio of 1.58 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $87.57 and a 200 day moving average of $77.90. Imperial Oil Limited has a 52 week low of $58.76 and a 52 week high of $96.09.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 4th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This is a boost from Imperial Oil’s previous quarterly dividend of $0.52. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. Imperial Oil’s payout ratio is 31.87%.

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.