FIL Ltd Sells 2,318,567 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

FIL Ltd reduced its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 50.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,309,924 shares of the energy company's stock after selling 2,318,567 shares during the quarter. FIL Ltd owned 0.45% of Imperial Oil worth $142,361,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of IMO. Winch Advisory Services LLC acquired a new stake in shares of Imperial Oil in the fourth quarter worth $26,000. BNP Paribas Financial Markets acquired a new position in Imperial Oil during the third quarter worth $28,000. Wingate Wealth Advisors Inc. bought a new position in shares of Imperial Oil in the 4th quarter valued at approximately $41,000. Allworth Financial LP raised its position in shares of Imperial Oil by 21.0% in the fourth quarter. Allworth Financial LP now owns 1,630 shares of the energy company's stock valued at $100,000 after purchasing an additional 283 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Imperial Oil during the 3rd quarter worth $137,000. Institutional investors and hedge funds own 20.74% of the company's stock.

Imperial Oil Price Performance

Shares of IMO traded down $0.39 during mid-day trading on Monday, reaching $62.19. The company had a trading volume of 107,989 shares, compared to its average volume of 440,703. Imperial Oil Limited has a 1-year low of $58.76 and a 1-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 has a market capitalization of $31.66 billion, a price-to-earnings ratio of 9.44 and a beta of 1.44. The company's 50 day simple moving average is $68.41 and its 200 day simple moving average is $70.04.

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Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th were given a dividend of $0.4972 per share. This is a positive change from Imperial Oil's previous quarterly dividend of $0.43. This represents a $1.99 annualized dividend and a yield of 3.20%. The ex-dividend date was Wednesday, March 5th. Imperial Oil's dividend payout ratio (DPR) is currently 25.80%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Imperial Oil from a "neutral" rating to an "underweight" rating in a report on Thursday, December 19th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $101.00 price target on shares of Imperial Oil in a research note on Thursday, April 3rd. Wolfe Research downgraded shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. The Goldman Sachs Group lowered Imperial Oil from a "neutral" rating to a "sell" rating in a research report on Thursday, March 27th. Finally, Raymond James upgraded Imperial Oil from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $106.33.

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.