Wellington Management Group LLP trimmed its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 36.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FMR LLC grew its stake in shares of Imperial Oil by 16.9% during the 4th quarter. FMR LLC now owns 43,162,088 shares of the energy company's stock valued at $2,659,965,000 after acquiring an additional 6,228,461 shares during the period. TD Asset Management Inc. boosted its position in shares of Imperial Oil by 2.2% in the fourth quarter. TD Asset Management Inc. now owns 4,825,945 shares of the energy company's stock worth $297,268,000 after purchasing an additional 105,970 shares during the period. Bank of America Corp DE boosted its position in shares of Imperial Oil by 1.1% in the fourth quarter. Bank of America Corp DE now owns 2,398,899 shares of the energy company's stock worth $147,772,000 after purchasing an additional 26,891 shares during the period. Geode Capital Management LLC increased its stake in shares of Imperial Oil by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 1,086,840 shares of the energy company's stock worth $67,634,000 after purchasing an additional 244,176 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Imperial Oil by 29.0% during the 4th quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company's stock valued at $58,212,000 after purchasing an additional 212,707 shares during the period. 20.74% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
IMO has been the subject of several recent analyst reports. The Goldman Sachs Group downgraded shares of Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday, March 27th. Wolfe Research raised Imperial Oil from a "peer perform" rating to an "outperform" rating in a research note on Monday, April 21st. Desjardins cut Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Raymond James reissued an "outperform" rating on shares of Imperial Oil in a report on Monday, May 5th. Finally, Scotiabank raised shares of Imperial Oil to a "hold" rating in a report on Wednesday, March 19th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $106.33.
Read Our Latest Analysis on IMO
Imperial Oil Price Performance
Shares of Imperial Oil stock traded down $0.13 during trading hours on Monday, reaching $73.41. The company's stock had a trading volume of 324,937 shares, compared to its average volume of 451,453. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.23. Imperial Oil Limited has a one year low of $58.76 and a one year high of $80.17. The firm has a 50 day moving average price of $68.48 and a 200-day moving average price of $69.98. The stock has a market cap of $37.37 billion, a P/E ratio of 11.14 and a beta of 1.44.
Imperial Oil Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.523 per share. This is a boost from Imperial Oil's previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, June 4th. This represents a $2.09 dividend on an annualized basis and a yield of 2.85%. Imperial Oil's payout ratio is 25.80%.
About Imperial Oil
(
Free Report)
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.
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