Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 53.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,795 shares of the energy company's stock after selling 15,627 shares during the period. Prudential Financial Inc.'s holdings in Imperial Oil were worth $850,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Winch Advisory Services LLC purchased a new position in shares of Imperial Oil in the fourth quarter valued at $26,000. BNP Paribas Financial Markets acquired a new stake in Imperial Oil in the 3rd quarter valued at about $28,000. Wingate Wealth Advisors Inc. purchased a new position in Imperial Oil during the 4th quarter valued at about $41,000. Allworth Financial LP raised its position in Imperial Oil by 21.0% during the fourth quarter. Allworth Financial LP now owns 1,630 shares of the energy company's stock worth $100,000 after acquiring an additional 283 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Imperial Oil in the third quarter valued at about $137,000. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Stock Up 3.8 %

Shares of NYSEAMERICAN:IMO traded up $2.31 during midday trading on Friday, hitting $62.58. 615,047 shares of the company's stock traded hands, compared to its average volume of 442,233. Imperial Oil Limited has a twelve month low of $58.76 and a twelve month high of $80.17. The company has a market cap of $31.86 billion, a PE ratio of 9.50 and a beta of 1.44. 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 firm's fifty day moving average price is $68.41 and its two-hundred day moving average price is $70.04.

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Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.4972 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.99 dividend on an annualized basis and a dividend yield of 3.18%. This is a positive change from Imperial Oil's previous quarterly dividend of $0.43. Imperial Oil's dividend payout ratio (DPR) is currently 25.80%.

Analyst Ratings Changes

IMO has been the subject of a number of analyst reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $101.00 price target on shares of Imperial Oil in a report on Thursday, April 3rd. The Goldman Sachs Group lowered shares of Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday, March 27th. Raymond James raised shares of Imperial Oil from a "market perform" rating to an "outperform" rating in a research note on Wednesday. Wolfe Research lowered shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. cut shares of Imperial Oil from a "neutral" rating to an "underweight" rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Imperial Oil has a consensus rating of "Hold" and a consensus price target of $106.33.

Imperial Oil Company 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.