Jefferies Financial Group Inc. Sells 33,470 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Key Points

• Jefferies Financial Group Inc. reduced its holdings in Imperial Oil by 16.7%, owning 166,583 shares valued at approximately $12 million after selling 33,470 shares in the first quarter.
• Multiple hedge funds increased their stakes in Imperial Oil, with Mackenzie Financial Corp raising its stake by 54.7% and LPL Financial LLC by 68.6% during the same period.
• Imperial Oil declared a quarterly dividend of $0.523, up from its previous dividend of $0.50, reflecting a 2.5% dividend yield and an annualized payout of $2.09.

Jefferies Financial Group Inc. decreased its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 16.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 166,583 shares of the energy company's stock after selling 33,470 shares during the period. Jefferies Financial Group Inc.'s holdings in Imperial Oil were worth $12,045,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IMO. Wayfinding Financial LLC purchased a new position in shares of Imperial Oil in the 1st quarter worth about $26,000. Group One Trading LLC boosted its holdings in shares of Imperial Oil by 29.7% in the 4th quarter. Group One Trading LLC now owns 755 shares of the energy company's stock worth $47,000 after purchasing an additional 173 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Imperial Oil by 7,136.4% in the 1st quarter. GAMMA Investing LLC now owns 796 shares of the energy company's stock worth $580,000 after purchasing an additional 785 shares in the last quarter. Continuum Advisory LLC purchased a new position in shares of Imperial Oil in the 1st quarter worth about $71,000. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Imperial Oil by 104.0% in the 1st quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company's stock worth $92,000 after purchasing an additional 650 shares in the last quarter. Institutional investors own 20.74% of the company's stock.

Imperial Oil Stock Performance

Shares of IMO stock traded down $0.15 on Friday, reaching $83.32. The stock had a trading volume of 581,456 shares, compared to its average volume of 362,654. The stock has a market cap of $42.41 billion, a P/E ratio of 12.45 and a beta of 0.92. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $86.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.22 and a current ratio of 1.48. The company has a 50 day simple moving average of $79.47 and a 200 day simple moving average of $71.48.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th were issued a $0.523 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $2.09 dividend on an annualized basis and a yield of 2.5%. This is an increase from Imperial Oil's previous quarterly dividend of $0.50. Imperial Oil's payout ratio is 31.87%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IMO. Tudor Pickering lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Desjardins lowered Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Raymond James Financial lowered Imperial Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Finally, Wolfe Research lowered Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 23rd. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $105.50.

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.