Wellington Management Group LLP Sells 22,176 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Wellington Management Group LLP cut its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 36.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,560 shares of the energy company’s stock after selling 22,176 shares during the quarter. Wellington Management Group LLP’s holdings in Imperial Oil were worth $2,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in shares of Imperial Oil during the 3rd quarter valued at about $28,000. Winch Advisory Services LLC bought a new position in Imperial Oil during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Imperial Oil during the fourth quarter worth approximately $41,000. Allworth Financial LP lifted its holdings in shares of Imperial Oil by 21.0% in the 4th quarter. Allworth Financial LP now owns 1,630 shares of the energy company’s stock worth $100,000 after acquiring an additional 283 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Imperial Oil in the 3rd quarter valued at $137,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

Shares of Imperial Oil stock opened at $62.58 on Friday. The business has a 50 day moving average of $68.41 and a 200 day moving average of $70.04. Imperial Oil Limited has a 52 week low of $58.76 and a 52 week high of $80.17. The company has a market cap of $31.86 billion, a PE ratio of 9.50 and a beta of 1.44. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were given a $0.4972 dividend. This represents a $1.99 annualized dividend and a dividend yield of 3.18%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 5th. Imperial Oil’s dividend payout ratio (DPR) is currently 25.80%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IMO shares. Raymond James upgraded shares of Imperial Oil from a “market perform” rating to an “outperform” rating in a research report on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price objective on shares of Imperial Oil in a report on Thursday, April 3rd. The Goldman Sachs Group cut Imperial Oil from a “neutral” rating to a “sell” rating in a report on Thursday, March 27th. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. lowered Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $106.33.

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.