Vanguard Group Inc. Sells 46,764 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Vanguard Group Inc. lessened its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,503,288 shares of the energy company's stock after selling 46,764 shares during the quarter. Vanguard Group Inc. owned approximately 1.28% of Imperial Oil worth $400,798,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Winch Advisory Services LLC bought a new position in Imperial Oil during the fourth quarter worth $26,000. BNP Paribas Financial Markets acquired a new stake in Imperial Oil during the 3rd quarter worth about $28,000. Wingate Wealth Advisors Inc. bought a new position in shares of Imperial Oil in the 4th quarter worth about $41,000. Allworth Financial LP lifted its stake in shares of Imperial Oil by 21.0% in the 4th 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 bought a new stake in shares of Imperial Oil during the 3rd quarter valued at about $137,000. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wolfe Research downgraded shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Royal Bank of Canada restated a "sector perform" rating and issued a $101.00 price target on shares of Imperial Oil in a report on Thursday. The Goldman Sachs Group lowered shares of Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday, March 27th. Scotiabank upgraded Imperial Oil to a "hold" rating in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. downgraded Imperial Oil from a "neutral" rating to an "underweight" rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $106.33.

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Imperial Oil Price Performance

Imperial Oil stock traded down $1.57 during trading hours on Monday, reaching $61.90. The company had a trading volume of 927,555 shares, compared to its average volume of 436,552. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34. Imperial Oil Limited has a 12-month low of $58.98 and a 12-month high of $80.17. The stock has a 50-day simple moving average of $69.44. The stock has a market cap of $31.51 billion, a price-to-earnings ratio of 9.39 and a beta of 1.44.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were given a $0.4972 dividend. This is a positive change from Imperial Oil's previous quarterly dividend of $0.43. This represents a $1.99 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Wednesday, March 5th. Imperial Oil's dividend payout ratio (DPR) is currently 25.80%.

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.