Lord Abbett & CO. LLC trimmed its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 94.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 26,600 shares of the energy company's stock after selling 498,121 shares during the period. Lord Abbett & CO. LLC's holdings in Imperial Oil were worth $1,871,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the stock. RFP Financial Group LLC acquired a new stake in Imperial Oil in the 2nd quarter valued at about $25,000. BNP Paribas Financial Markets purchased a new stake in shares of Imperial Oil in the 3rd quarter valued at approximately $28,000. Grove Bank & Trust raised its holdings in shares of Imperial Oil by 438.0% in the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company's stock valued at $38,000 after purchasing an additional 438 shares in the last quarter. Allworth Financial LP lifted its position in shares of Imperial Oil by 21.0% during the 3rd quarter. Allworth Financial LP now owns 1,347 shares of the energy company's stock worth $95,000 after purchasing an additional 234 shares during the last quarter. Finally, Oakworth Capital Inc. acquired a new position in shares of Imperial Oil during the 3rd quarter worth about $101,000. Hedge funds and other institutional investors own 20.74% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on IMO. Scotiabank restated a "sector perform" rating and issued a $110.00 price objective on shares of Imperial Oil in a research note on Wednesday, September 25th. StockNews.com downgraded Imperial Oil from a "buy" rating to a "hold" rating in a research note on Wednesday, August 28th.
View Our Latest Stock Report on IMO
Imperial Oil Stock Performance
Shares of Imperial Oil stock traded down $0.60 during trading on Tuesday, reaching $65.83. The company had a trading volume of 321,162 shares, compared to its average volume of 409,925. Imperial Oil Limited has a fifty-two week low of $54.58 and a fifty-two week high of $80.17. The firm has a market cap of $33.74 billion, a PE ratio of 9.90 and a beta of 1.42. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44.
Imperial Oil Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.4304 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Tuesday, December 3rd. Imperial Oil's payout ratio is 26.38%.
About Imperial Oil
(
Free Report)
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.
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