Imperial Oil Limited (NYSEAMERICAN:IMO) Position Trimmed by First Eagle Investment Management LLC

First Eagle Investment Management LLC decreased its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,213,253 shares of the energy company's stock after selling 501,101 shares during the quarter. Imperial Oil accounts for about 2.9% of First Eagle Investment Management LLC's investment portfolio, making the stock its 5th biggest position. First Eagle Investment Management LLC owned 4.17% of Imperial Oil worth $1,305,724,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of IMO. Aviso Financial Inc. increased its stake in Imperial Oil by 4.3% in the 4th quarter. Aviso Financial Inc. now owns 19,775 shares of the energy company's stock worth $1,218,000 after buying an additional 821 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of Imperial Oil by 4.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,916 shares of the energy company's stock worth $241,000 after acquiring an additional 163 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Imperial Oil by 3.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,288 shares of the energy company's stock worth $7,594,000 after acquiring an additional 3,902 shares during the period. Ashton Thomas Private Wealth LLC raised its stake in shares of Imperial Oil by 394.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 42,321 shares of the energy company's stock valued at $2,621,000 after acquiring an additional 33,760 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Imperial Oil in the fourth quarter valued at approximately $7,982,000. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

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Imperial Oil Stock Performance

IMO stock traded up $1.28 during trading on Friday, reaching $67.90. 325,603 shares of the company traded hands, compared to its average volume of 431,856. The company's 50 day moving average price is $67.66. Imperial Oil Limited has a 12 month low of $60.95 and a 12 month high of $80.17. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $34.56 billion, a P/E ratio of 10.30 and a beta of 1.44.

Imperial Oil Increases Dividend

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

Analysts Set New Price Targets

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