Massachusetts Financial Services Co. MA Reduces Stock Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Massachusetts Financial Services Co. MA lowered its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 13.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,476 shares of the energy company's stock after selling 14,856 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Imperial Oil were worth $7,122,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. FMR LLC lifted its holdings in shares of Imperial Oil by 16.9% in the 4th quarter. FMR LLC now owns 43,162,088 shares of the energy company's stock worth $2,659,965,000 after buying an additional 6,228,461 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Imperial Oil in the 4th quarter worth $19,507,000. Geode Capital Management LLC raised its position in shares of Imperial Oil by 29.0% in the 4th quarter. Geode Capital Management LLC now owns 1,086,840 shares of the energy company's stock worth $67,634,000 after acquiring an additional 244,176 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Imperial Oil by 29.0% in the 4th quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company's stock worth $58,212,000 after acquiring an additional 212,707 shares in the last quarter. Finally, Guardian Partners Inc. bought a new position in shares of Imperial Oil in the 4th quarter worth $10,890,000. Hedge funds and other institutional investors own 20.74% of the company's stock.

Imperial Oil Stock Up 0.4%

Shares of IMO opened at $82.31 on Friday. The company has a market capitalization of $41.90 billion, a price-to-earnings ratio of 12.30 and a beta of 0.89. The stock's 50-day moving average price is $77.14 and its 200-day moving average price is $70.87. The company has a quick ratio of 1.22, a current ratio of 1.48 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 $83.65.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 4th were given a $0.523 dividend. This represents a $2.09 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Wednesday, June 4th. This is an increase from Imperial Oil's previous quarterly dividend of $0.50. Imperial Oil's dividend payout ratio (DPR) is 31.87%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IMO. Raymond James Financial lowered Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. The Goldman Sachs Group lowered Imperial Oil from a "neutral" rating to a "sell" rating in a research report on Thursday, March 27th. Wolfe Research raised Imperial Oil from a "peer perform" rating to an "outperform" rating in a research report on Monday, April 21st. Desjardins lowered Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $101.00 target price on shares of Imperial Oil in a research report on Thursday, April 3rd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Imperial Oil has a consensus rating of "Hold" and a consensus price target 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.

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