Bessemer Group Inc. Sells 5,360 Shares of Imperial Oil Limited $IMO

Bessemer Group Inc. lowered its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 17.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,918 shares of the energy company’s stock after selling 5,360 shares during the period. Bessemer Group Inc.’s holdings in Imperial Oil were worth $2,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE grew its position in shares of Imperial Oil by 31.6% during the 2nd quarter. Bank of America Corp DE now owns 2,945,528 shares of the energy company’s stock worth $234,111,000 after buying an additional 707,985 shares in the last quarter. Bank of Montreal Can raised 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 acquiring an additional 451,369 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in Imperial Oil by 219.9% in the second quarter. TD Waterhouse Canada Inc. now owns 532,311 shares of the energy company’s stock worth $42,668,000 after acquiring an additional 365,936 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Imperial Oil by 18.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,053,989 shares of the energy company’s stock worth $163,413,000 after acquiring an additional 318,696 shares in the last quarter. Finally, Fiera Capital Corp grew its holdings in Imperial Oil by 1,294.3% during the 2nd quarter. Fiera Capital Corp now owns 304,811 shares of the energy company’s stock worth $24,220,000 after acquiring an additional 282,949 shares in the last quarter. Institutional investors own 20.74% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on IMO. TD Securities restated a “sell” rating on shares of Imperial Oil in a report on Tuesday, November 4th. Canadian Imperial Bank of Commerce lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Royal Bank Of Canada restated a “sector perform” rating on shares of Imperial Oil in a report on Wednesday, November 5th. BMO Capital Markets cut Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Finally, Raymond James Financial downgraded Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. Six analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $115.00.

Imperial Oil Price Performance

NYSEAMERICAN IMO opened at $112.68 on Monday. Imperial Oil Limited has a 12-month low of $58.76 and a 12-month high of $112.74. The firm’s fifty day simple moving average is $94.00 and its two-hundred day simple moving average is $91.37. The company has a current ratio of 1.47, a quick ratio of 1.17 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $54.49 billion, a P/E ratio of 24.60 and a beta of 0.70.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 5th will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, March 5th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. Imperial Oil’s payout ratio is 31.26%.

Imperial Oil Profile

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.