Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 67.8% during the first quarter, Holdings Channel reports. The fund owned 30,668 shares of the energy company’s stock after selling 64,534 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Imperial Oil were worth $2,098,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Raymond James & Associates boosted its position in shares of Imperial Oil by 45.5% during the 4th quarter. Raymond James & Associates now owns 29,667 shares of the energy company’s stock valued at $1,697,000 after purchasing an additional 9,271 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Imperial Oil during the 4th quarter valued at about $1,745,000. Clarius Group LLC boosted its holdings in shares of Imperial Oil by 6.0% in the fourth quarter. Clarius Group LLC now owns 7,104 shares of the energy company’s stock worth $406,000 after buying an additional 402 shares during the period. NewEdge Wealth LLC boosted its holdings in shares of Imperial Oil by 67.0% in the fourth quarter. NewEdge Wealth LLC now owns 29,218 shares of the energy company’s stock worth $1,671,000 after buying an additional 11,717 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Imperial Oil by 137.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,842 shares of the energy company’s stock worth $5,086,000 after buying an additional 51,449 shares during the period. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Stock Up 1.4 %

IMO stock traded up $0.96 during trading hours on Tuesday, hitting $68.68. 347,782 shares of the stock were exchanged, compared to its average volume of 388,903. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.04. The stock has a market capitalization of $36.80 billion, a price-to-earnings ratio of 10.71 and a beta of 1.47. Imperial Oil Limited has a 12 month low of $51.85 and a 12 month high of $74.58.

Imperial Oil Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Wednesday, September 4th will be paid a $0.4336 dividend. This represents a $1.73 annualized dividend and a yield of 2.53%. The ex-dividend date is Wednesday, September 4th. Imperial Oil’s dividend payout ratio (DPR) is presently 27.59%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wolfe Research started coverage on shares of Imperial Oil in a report on Thursday, July 18th. They set an “outperform” rating and a $108.00 price target for the company. StockNews.com raised shares of Imperial Oil from a “hold” rating to a “buy” rating in a research report on Monday. Scotiabank dropped their target price on shares of Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, Raymond James upgraded shares of Imperial Oil to a “hold” rating in a research note on Tuesday, May 28th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $94.80.

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.