Wellington Management Group LLP Buys 30,965 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Wellington Management Group LLP boosted its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 104.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,736 shares of the energy company’s stock after buying an additional 30,965 shares during the period. Wellington Management Group LLP’s holdings in Imperial Oil were worth $4,278,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fiera Capital Corp boosted its stake in Imperial Oil by 262.5% during the 2nd quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock valued at $6,511,000 after purchasing an additional 69,121 shares during the last quarter. Bridgewater Associates LP boosted its stake in Imperial Oil by 522.8% during the 3rd 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 during the last quarter. Ritholtz Wealth Management boosted its stake in Imperial Oil by 17.4% during the 3rd quarter. Ritholtz Wealth Management now owns 59,726 shares of the energy company’s stock valued at $4,208,000 after purchasing an additional 8,858 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Imperial Oil by 855.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 35,981 shares of the energy company’s stock valued at $2,534,000 after purchasing an additional 32,214 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in Imperial Oil during the 3rd quarter valued at $948,000. Institutional investors own 20.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Scotiabank restated a “sector perform” rating and issued a $110.00 price target on shares of Imperial Oil in a research note on Wednesday, September 25th.

Imperial Oil Stock Performance

IMO stock opened at $65.83 on Wednesday. The firm has a market capitalization of $33.74 billion, a PE ratio of 9.81 and a beta of 1.42. Imperial Oil Limited has a 1 year low of $54.58 and a 1 year high of $80.17. The company has a current ratio of 1.44, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17.

Imperial Oil Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be given 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 2.62%. Imperial Oil’s dividend payout ratio (DPR) is presently 26.38%.

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.