UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 40,887 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 17.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 199,339 shares of the energy company’s stock after selling 40,887 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Imperial Oil were worth $14,043,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bridgewater Associates LP grew its position in shares of Imperial Oil by 522.8% during the third quarter. Bridgewater Associates LP now owns 201,126 shares of the energy company’s stock valued at $14,166,000 after purchasing an additional 168,831 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Imperial Oil during the third quarter valued at approximately $28,000. FMR LLC grew its holdings in Imperial Oil by 3.7% during the 3rd quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock valued at $2,598,604,000 after buying an additional 1,331,235 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Imperial Oil by 8.4% in the 3rd 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 last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Imperial Oil by 95.5% during the 3rd quarter. Cerity Partners LLC now owns 61,659 shares of the energy company’s stock worth $4,344,000 after acquiring an additional 30,127 shares in the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Stock Performance

Shares of IMO opened at $71.28 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a 52-week low of $52.97 and a 52-week high of $80.17. The firm has a market capitalization of $36.91 billion, a P/E ratio of 10.62 and a beta of 1.42.

Imperial Oil Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.4304 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.72 annualized dividend and a yield of 2.42%. Imperial Oil’s payout ratio is 26.38%.

Analysts Set New Price Targets

IMO has been the subject of a number of recent research reports. StockNews.com lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Scotiabank reissued a “sector perform” rating and issued a $110.00 price objective on shares of Imperial Oil in a research note on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target 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.