Imperial Oil Limited (NYSEAMERICAN:IMO) Stake Trimmed by Hara Capital LLC

Hara Capital LLC lowered its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 25.1% in the third quarter, Holdings Channel.com reports. The firm owned 12,460 shares of the energy company’s stock after selling 4,168 shares during the period. Hara Capital LLC’s holdings in Imperial Oil were worth $878,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IMO. Olympiad Research LP purchased a new stake in Imperial Oil in the 3rd quarter worth approximately $388,000. Radnor Capital Management LLC purchased a new stake in shares of Imperial Oil during the third quarter worth $314,000. Stephens Inc. AR grew its stake in Imperial Oil by 9.0% in the third quarter. Stephens Inc. AR now owns 14,521 shares of the energy company’s stock valued at $1,023,000 after purchasing an additional 1,196 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new position in Imperial Oil in the 3rd quarter worth about $207,000. Finally, DekaBank Deutsche Girozentrale increased its position in Imperial Oil by 1.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 30,782 shares of the energy company’s stock worth $2,162,000 after purchasing an additional 505 shares during the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on IMO. Wolfe Research started coverage on Imperial Oil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $108.00 price target for the company. Scotiabank restated a “sector perform” rating and issued a $110.00 price objective on shares of Imperial Oil in a research note on Wednesday, September 25th. Finally, StockNews.com downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.00.

Imperial Oil Stock Performance

Shares of IMO traded up $1.04 on Thursday, reaching $73.38. 43,890 shares of the stock traded hands, compared to its average volume of 399,144. The stock has a market cap of $38.78 billion, a PE ratio of 10.55 and a beta of 1.44. The company has a current ratio of 1.40, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a 12 month low of $52.97 and a 12 month high of $80.17.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.4304 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, December 3rd. Imperial Oil’s payout ratio is 26.53%.

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.