First Eagle Investment Management LLC Has $1.31 Billion Stock Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

First Eagle Investment Management LLC cut its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,213,253 shares of the energy company's stock after selling 501,101 shares during the quarter. Imperial Oil comprises about 2.9% of First Eagle Investment Management LLC's holdings, making the stock its 5th largest position. First Eagle Investment Management LLC owned 4.17% of Imperial Oil worth $1,305,724,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Atria Investments Inc purchased a new position in Imperial Oil during the third quarter worth about $228,000. Versor Investments LP purchased a new position in Imperial Oil during the third quarter worth about $225,000. Ashton Thomas Private Wealth LLC grew its position in Imperial Oil by 5.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 8,561 shares of the energy company's stock worth $603,000 after buying an additional 422 shares in the last quarter. CIBC Asset Management Inc grew its position in Imperial Oil by 38.5% during the third quarter. CIBC Asset Management Inc now owns 494,647 shares of the energy company's stock worth $34,814,000 after buying an additional 137,535 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Imperial Oil by 3.1% during the third quarter. Empowered Funds LLC now owns 13,986 shares of the energy company's stock worth $985,000 after purchasing an additional 420 shares during the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

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Imperial Oil Stock Up 1.9 %

Shares of NYSEAMERICAN IMO traded up $1.28 during midday trading on Friday, reaching $67.90. The company had a trading volume of 325,603 shares, compared to its average volume of 431,856. Imperial Oil Limited has a one year low of $60.95 and a one year 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 1.34. The company's fifty day simple moving average is $67.66. The company has a market cap of $34.56 billion, a PE ratio of 10.30 and a beta of 1.44.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th will be paid a $0.4972 dividend. This represents a $1.99 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Wednesday, March 5th. This is a positive change from Imperial Oil's previous quarterly dividend of $0.43. Imperial Oil's payout ratio is 25.80%.

Analyst Ratings Changes

IMO has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered Imperial Oil from a "neutral" rating to an "underweight" rating in a research note on Thursday, December 19th. Wolfe Research lowered Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $109.00.

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.