US Bancorp DE Lowers Stock Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

US Bancorp DE lowered its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,112 shares of the energy company’s stock after selling 168 shares during the quarter. US Bancorp DE’s holdings in Imperial Oil were worth $1,417,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. RFP Financial Group LLC acquired a new position in shares of Imperial Oil during the second quarter valued at approximately $25,000. Grove Bank & Trust increased its holdings in shares of Imperial Oil by 438.0% in the third quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock valued at $38,000 after purchasing an additional 438 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Imperial Oil in the first quarter valued at approximately $46,000. Hexagon Capital Partners LLC increased its holdings in shares of Imperial Oil by 45.6% in the second quarter. Hexagon Capital Partners LLC now owns 718 shares of the energy company’s stock valued at $49,000 after purchasing an additional 225 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Imperial Oil by 21.0% in the third quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock valued at $95,000 after purchasing an additional 234 shares during the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Trading Up 2.3 %

NYSEAMERICAN IMO opened at $73.98 on Friday. The company has a market cap of $39.09 billion, a price-to-earnings ratio of 11.05 and a beta of 1.44. Imperial Oil Limited has a 12-month low of $52.97 and a 12-month high of $80.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.40.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd will be issued a $0.4304 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.33%. Imperial Oil’s dividend payout ratio is presently 26.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IMO shares. Wolfe Research began coverage on Imperial Oil in a research note on Thursday, July 18th. They set an “outperform” rating and a $108.00 target price for the company. StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $110.00 target price on shares of Imperial Oil in a report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Imperial Oil presently has an average rating of “Hold” and a consensus price target of $109.00.

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.