Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.1% during the 3rd quarter, Holdings Channel reports. The fund owned 119,386 shares of the energy company’s stock after selling 2,524 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Imperial Oil were worth $8,409,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV boosted its stake in Imperial Oil by 5.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,266 shares of the energy company’s stock worth $223,000 after buying an additional 158 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Imperial Oil by 5.2% in the second quarter. EverSource Wealth Advisors LLC now owns 3,308 shares of the energy company’s stock valued at $237,000 after acquiring an additional 163 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Imperial Oil by 5.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,753 shares of the energy company’s stock worth $265,000 after buying an additional 178 shares during the period. CWM LLC increased its position in shares of Imperial Oil by 8.7% during the second quarter. CWM LLC now owns 2,319 shares of the energy company’s stock worth $158,000 after acquiring an additional 185 shares during the last quarter. Finally, OLD National Bancorp IN increased its holdings in Imperial Oil by 5.6% during the 2nd quarter. OLD National Bancorp IN now owns 3,831 shares of the energy company’s stock worth $261,000 after purchasing an additional 204 shares during the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IMO has been the topic of a number of recent analyst reports. Scotiabank restated a “sector perform” rating and issued a $110.00 target price on shares of Imperial Oil in a research note on Wednesday, September 25th. StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $109.00.

Imperial Oil Price Performance

Imperial Oil stock opened at $73.92 on Monday. Imperial Oil Limited has a 52 week low of $52.97 and a 52 week high of $80.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44. The stock has a market cap of $38.28 billion, a price-to-earnings ratio of 11.02 and a beta of 1.44.

Imperial Oil Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.4304 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Tuesday, December 3rd. Imperial Oil’s dividend payout ratio (DPR) is presently 26.53%.

Imperial Oil Company 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.