Imperial Oil Limited $IMO Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. decreased its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 17.1% in the third quarter, according to its most recent 13F filing 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).

Several other large investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new position in shares of Imperial Oil in the second quarter worth about $28,000. MAI Capital Management boosted its holdings in shares of Imperial Oil by 2,275.0% in the 2nd quarter. MAI Capital Management now owns 380 shares of the energy company’s stock valued at $30,000 after acquiring an additional 364 shares during the last quarter. Westside Investment Management Inc. increased its stake in shares of Imperial Oil by 100.0% in the third quarter. Westside Investment Management Inc. now owns 426 shares of the energy company’s stock worth $38,000 after acquiring an additional 213 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of Imperial Oil during the third quarter worth $123,000. Finally, Jones Financial Companies Lllp boosted its holdings in Imperial Oil by 93.6% in the third quarter. Jones Financial Companies Lllp now owns 1,392 shares of the energy company’s stock valued at $130,000 after purchasing an additional 673 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Up 4.0%

Imperial Oil stock opened at $112.68 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.17. The stock has a market capitalization of $54.49 billion, a PE ratio of 24.60 and a beta of 0.70. The business has a 50 day simple moving average of $94.00 and a 200-day simple moving average of $91.37. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $112.74.

Imperial Oil Increases Dividend

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

Analysts Set New Price Targets

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

About Imperial Oil

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.