Massachusetts Financial Services Co. MA Trims Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Massachusetts Financial Services Co. MA decreased its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 13.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 98,476 shares of the energy company's stock after selling 14,856 shares during the period. Massachusetts Financial Services Co. MA's holdings in Imperial Oil were worth $7,122,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in IMO. Wayfinding Financial LLC bought a new stake in shares of Imperial Oil in the first quarter valued at approximately $26,000. Group One Trading LLC raised its position in shares of Imperial Oil by 29.7% in the fourth quarter. Group One Trading LLC now owns 755 shares of the energy company's stock valued at $47,000 after purchasing an additional 173 shares during the period. Continuum Advisory LLC bought a new stake in shares of Imperial Oil in the first quarter valued at approximately $71,000. AdvisorNet Financial Inc raised its position in shares of Imperial Oil by 104.0% in the first quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company's stock valued at $92,000 after purchasing an additional 650 shares during the period. Finally, Pacifica Partners Inc. raised its position in shares of Imperial Oil by 141.1% in the first quarter. Pacifica Partners Inc. now owns 2,440 shares of the energy company's stock valued at $167,000 after purchasing an additional 1,428 shares during the period. Institutional investors own 20.74% of the company's stock.

Imperial Oil Trading Up 0.6%

Shares of IMO traded up $0.53 during mid-day trading on Wednesday, reaching $84.01. The company's stock had a trading volume of 434,293 shares, compared to its average volume of 456,743. The stock has a market cap of $42.77 billion, a PE ratio of 12.56 and a beta of 0.89. The company has a current ratio of 1.48, a quick ratio of 1.22 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 $84.49. The company's fifty day moving average price is $77.75 and its two-hundred day moving average price is $70.99.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th were issued a dividend of $0.523 per share. This is a positive change from Imperial Oil's previous quarterly dividend of $0.50. This represents a $2.09 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Wednesday, June 4th. Imperial Oil's dividend payout ratio is currently 31.87%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. The Goldman Sachs Group lowered shares of Imperial Oil from a "neutral" rating to a "sell" rating in a research report on Thursday, March 27th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $101.00 price objective on shares of Imperial Oil in a research note on Thursday, April 3rd. Raymond James Financial cut shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Desjardins cut shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Finally, Wolfe Research cut shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. According to MarketBeat, Imperial Oil has a consensus rating of "Hold" and an average target price of $105.50.

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.