Baker Ellis Asset Management LLC Cuts Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Baker Ellis Asset Management LLC decreased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 47.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,900 shares of the energy company's stock after selling 3,500 shares during the quarter. Baker Ellis Asset Management LLC's holdings in Imperial Oil were worth $240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Winch Advisory Services LLC bought a new stake in Imperial Oil in the fourth quarter worth approximately $26,000. BNP Paribas Financial Markets bought a new position in Imperial Oil during the third quarter worth $28,000. Grove Bank & Trust grew its holdings in Imperial Oil by 438.0% in the third quarter. Grove Bank & Trust now owns 538 shares of the energy company's stock worth $38,000 after purchasing an additional 438 shares during the period. Allworth Financial LP raised its holdings in shares of Imperial Oil by 21.0% during the third quarter. Allworth Financial LP now owns 1,347 shares of the energy company's stock valued at $95,000 after purchasing an additional 234 shares during the period. Finally, Oakworth Capital Inc. bought a new position in shares of Imperial Oil during the 3rd quarter worth about $101,000. Institutional investors and hedge funds own 20.74% of the company's stock.

Imperial Oil Stock Performance

Shares of NYSEAMERICAN IMO traded down $1.27 during midday trading on Friday, hitting $70.30. The company's stock had a trading volume of 272,480 shares, compared to its average volume of 592,725. The firm has a market cap of $35.79 billion, a P/E ratio of 10.48 and a beta of 1.45. Imperial Oil Limited has a one year low of $55.74 and a one year high of $80.17. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.4304 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Tuesday, December 3rd. Imperial Oil's payout ratio is presently 25.34%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of Imperial Oil from a "neutral" rating to an "underweight" rating in a research note on Thursday, December 19th. Wolfe Research cut shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. Based on data from MarketBeat, Imperial Oil currently has a consensus rating of "Hold" and a consensus target price 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.