Principal Financial Group Inc. Sells 906 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Principal Financial Group Inc. trimmed its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,636 shares of the energy company’s stock after selling 906 shares during the period. Principal Financial Group Inc.’s holdings in Imperial Oil were worth $1,172,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of IMO. BNP Paribas Financial Markets bought a new stake in Imperial Oil during the third quarter worth about $28,000. Grove Bank & Trust raised its holdings in shares of Imperial Oil by 438.0% during the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock valued at $38,000 after buying an additional 438 shares in the last quarter. Allworth Financial LP lifted its position in Imperial Oil by 21.0% in the 3rd quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock worth $95,000 after buying an additional 234 shares during the last quarter. Oakworth Capital Inc. purchased a new stake in Imperial Oil in the third quarter worth approximately $101,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Imperial Oil during the third quarter valued at approximately $137,000. 20.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IMO shares. Wolfe Research lowered shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Friday. Scotiabank reissued a “sector perform” rating and issued a $110.00 price target on shares of Imperial Oil in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $109.00.

Imperial Oil Stock Performance

Shares of Imperial Oil stock opened at $62.41 on Friday. Imperial Oil Limited has a 52-week low of $54.58 and a 52-week high of $80.17. The company has a current ratio of 1.44, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $31.99 billion, a PE ratio of 9.30 and a beta of 1.42.

Imperial Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd were given a $0.4304 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Tuesday, December 3rd. Imperial Oil’s payout ratio is 26.38%.

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.