Wellington Management Group LLP Sells 3,158 Shares of Imperial Oil Limited $IMO

Key Points

• Wellington Management Group LLP reduced its stake in Imperial Oil Limited by 8.2% during the 1st quarter, owning 35,402 shares worth approximately $2.56 million after selling 3,158 shares.
• Imperial Oil has declared a quarterly dividend of $0.72 per share, representing an annualized yield of 3.2% and an increase from its previous quarterly dividend of $0.52.
• Analyst ratings for Imperial Oil show divided opinions, with one "Buy," five "Hold," and three "Sell," while the consensus target price is set at $105.50.

Wellington Management Group LLP lowered its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 8.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,402 shares of the energy company's stock after selling 3,158 shares during the period. Wellington Management Group LLP's holdings in Imperial Oil were worth $2,557,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in shares of Imperial Oil in the first quarter valued at approximately $26,000. Group One Trading LLC lifted its holdings 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 in the last quarter. Continuum Advisory LLC bought a new position in shares of Imperial Oil in the first quarter valued at approximately $71,000. AdvisorNet Financial Inc lifted its holdings 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 in the last quarter. Finally, Pacifica Partners Inc. lifted its holdings 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 in the last quarter. Institutional investors own 20.74% of the company's stock.

Imperial Oil Price Performance

Imperial Oil stock traded up $0.20 during midday trading on Thursday, hitting $87.85. 134,195 shares of the company's stock were exchanged, compared to its average volume of 447,717. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $91.17. The stock has a 50-day moving average price of $83.95 and a two-hundred day moving average price of $74.78. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.58. The company has a market cap of $44.50 billion, a P/E ratio of 13.54 and a beta of 0.94.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 4th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, September 4th. This is a positive change from Imperial Oil's previous quarterly dividend of $0.52. This represents a $2.88 annualized dividend and a yield of 3.3%. Imperial Oil's dividend payout ratio (DPR) is presently 31.87%.

Wall Street Analyst Weigh In

A number of analysts recently commented on IMO shares. Wolfe Research lowered Imperial Oil from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 23rd. BMO Capital Markets reissued an "outperform" rating on shares of Imperial Oil in a research report on Monday, August 4th. Tudor Pickering downgraded Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Desjardins downgraded Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Finally, Raymond James Financial downgraded Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Imperial Oil presently has a consensus rating of "Reduce" 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.