Imperial Oil Limited (NYSEAMERICAN:IMO) Stock Position Lowered by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 4.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 192,325 shares of the energy company’s stock after selling 8,328 shares during the period. PNC Financial Services Group Inc.’s holdings in Imperial Oil were worth $13,549,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. RFP Financial Group LLC bought a new position in shares of Imperial Oil in the second quarter valued at $25,000. Grove Bank & Trust grew its holdings in shares of Imperial Oil by 438.0% in the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock worth $38,000 after acquiring an additional 438 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of Imperial Oil by 45.6% during the second quarter. Hexagon Capital Partners LLC now owns 718 shares of the energy company’s stock worth $49,000 after purchasing an additional 225 shares during the period. Allworth Financial LP lifted its holdings in shares of Imperial Oil by 21.0% during 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. Finally, Oakworth Capital Inc. acquired a new position in shares of Imperial Oil in the 3rd quarter valued at $101,000. 20.74% of the stock is owned by institutional investors and hedge funds.

Imperial Oil Trading Up 0.1 %

Shares of IMO opened at $77.13 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44. The stock has a market capitalization of $39.94 billion, a PE ratio of 11.49 and a beta of 1.44. Imperial Oil Limited has a fifty-two week low of $52.97 and a fifty-two week high of $80.17.

Imperial Oil Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.4304 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Tuesday, December 3rd. Imperial Oil’s dividend payout ratio (DPR) is currently 26.53%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IMO. StockNews.com lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Scotiabank reiterated a “sector perform” rating and set a $110.00 price objective on shares of Imperial Oil in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.