Wellington Management Group LLP Lowers Stock Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Wellington Management Group LLP lessened its position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 36.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,560 shares of the energy company's stock after selling 22,176 shares during the quarter. Wellington Management Group LLP's holdings in Imperial Oil were worth $2,375,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Winch Advisory Services LLC acquired a new position in shares of Imperial Oil during the 4th quarter worth approximately $26,000. BNP Paribas Financial Markets purchased a new stake in shares of Imperial Oil in the third quarter valued at about $28,000. Wingate Wealth Advisors Inc. acquired a new stake in Imperial Oil during the fourth quarter worth about $41,000. Allworth Financial LP raised its stake 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 purchasing an additional 283 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Imperial Oil in the 3rd quarter valued at about $137,000. 20.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on IMO. Raymond James upgraded Imperial Oil from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Scotiabank raised Imperial Oil to a "hold" rating in a research report on Wednesday, March 19th. Wolfe Research cut shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. The Goldman Sachs Group downgraded shares of Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $101.00 price objective on shares of Imperial Oil in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Imperial Oil presently has an average rating of "Hold" and an average target price of $106.33.

Remove Ads

Imperial Oil Stock Down 2.0 %

Shares of IMO stock traded down $1.25 during trading on Tuesday, reaching $60.95. The company's stock had a trading volume of 378,728 shares, compared to its average volume of 442,081. Imperial Oil Limited has a 1-year low of $58.76 and a 1-year high of $80.17. The stock's 50-day moving average price is $68.25 and its 200 day moving average price is $69.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.23. The company has a market capitalization of $31.03 billion, a price-to-earnings ratio of 9.25 and a beta of 1.44.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th were given a $0.4972 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.99 dividend on an annualized basis and a yield of 3.26%. 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%.

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.