Imperial Oil Limited $IMO Shares Sold by Federation des caisses Desjardins du Quebec

Key Points

• Federation des caisses Desjardins du Quebec reduced its stake in Imperial Oil Limited by 15.6%, owning 64,081 shares valued at approximately $4.59 million after selling 11,846 shares.
• Imperial Oil increased its quarterly dividend to $0.72 per share from $0.52, representing an annualized amount of $2.88 and a yield of 3.3%.
• Research analysts have mixed ratings on Imperial Oil, with an average rating of "Reduce" and a price target of $105.50, indicating cautious investor sentiment.

Federation des caisses Desjardins du Quebec cut its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 15.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,081 shares of the energy company's stock after selling 11,846 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Imperial Oil were worth $4,586,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new position in Imperial Oil during the first quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. boosted its position in Imperial Oil by 88.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company's stock worth $39,000 after purchasing an additional 255 shares in the last quarter. Group One Trading LLC lifted its stake in Imperial Oil by 29.7% in the 4th quarter. Group One Trading LLC now owns 755 shares of the energy company's stock valued at $47,000 after buying an additional 173 shares in the last quarter. Continuum Advisory LLC purchased a new position in Imperial Oil in the 1st quarter valued at about $71,000. Finally, AdvisorNet Financial Inc lifted its stake in Imperial Oil by 104.0% in the 1st quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company's stock valued at $92,000 after buying an additional 650 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company's stock.

Imperial Oil Stock Down 0.2%

NYSEAMERICAN:IMO traded down $0.19 during trading hours on Friday, hitting $87.28. The company's stock had a trading volume of 388,357 shares, compared to its average volume of 350,425. The stock has a market capitalization of $44.22 billion, a P/E ratio of 13.45 and a beta of 0.94. The stock has a fifty day moving average of $84.23 and a 200-day moving average of $75.11. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $91.17.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 4th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. This is a boost from Imperial Oil's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, September 4th. Imperial Oil's dividend payout ratio is presently 31.56%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Zacks Research raised shares of Imperial Oil from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Desjardins lowered shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Wolfe Research lowered shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 23rd. Raymond James Financial lowered shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Imperial Oil in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Imperial Oil presently has a consensus rating of "Hold" and an average price target of $105.50.

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.