Alliancebernstein L.P. Cuts Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Alliancebernstein L.P. trimmed its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 56.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,840 shares of the energy company's stock after selling 60,391 shares during the period. Alliancebernstein L.P.'s holdings in Imperial Oil were worth $2,885,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IMO. BNP Paribas Financial Markets bought a new stake in Imperial Oil during the 3rd quarter worth approximately $28,000. Wellington Management Group LLP grew its holdings in shares of Imperial Oil by 104.0% during the third quarter. Wellington Management Group LLP now owns 60,736 shares of the energy company's stock worth $4,278,000 after purchasing an additional 30,965 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Imperial Oil in the third quarter valued at $1,210,000. Barclays PLC raised its holdings in shares of Imperial Oil by 27.8% in the third quarter. Barclays PLC now owns 2,838 shares of the energy company's stock valued at $200,000 after buying an additional 617 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Imperial Oil by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company's stock worth $59,502,000 after buying an additional 70,357 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank of Canada reissued a "sector perform" rating and issued a $101.00 price target on shares of Imperial Oil in a report on Thursday, April 3rd. Raymond James upgraded shares of Imperial Oil from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Scotiabank upgraded shares of Imperial Oil to a "hold" rating in a report on Wednesday, March 19th. The Goldman Sachs Group cut Imperial Oil from a "neutral" rating to a "sell" rating in a research report on Thursday, March 27th. Finally, Wolfe Research cut shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $106.33.

Imperial Oil Stock Performance

NYSEAMERICAN:IMO traded up $1.54 during mid-day trading on Friday, hitting $63.70. The stock had a trading volume of 664,396 shares, compared to its average volume of 445,199. The company's 50 day simple moving average is $67.83 and its 200 day simple moving average is $69.82. The stock has a market cap of $32.43 billion, a price-to-earnings ratio of 9.67 and a beta of 1.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34. Imperial Oil Limited has a twelve month low of $58.76 and a twelve month high of $80.17.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.4972 per share. This is an increase from Imperial Oil's previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 5th. This represents a $1.99 annualized dividend and a yield of 3.12%. Imperial Oil's dividend payout ratio (DPR) is currently 25.80%.

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.