Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,325 shares of the energy company’s stock after selling 8,328 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Imperial Oil were worth $13,549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in IMO. RFP Financial Group LLC acquired a new stake in Imperial Oil in the second quarter valued at approximately $25,000. Grove Bank & Trust grew its holdings in 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 purchasing an additional 438 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in Imperial Oil by 45.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 718 shares of the energy company’s stock worth $49,000 after buying an additional 225 shares during the period. Allworth Financial LP lifted its holdings 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 in the last quarter. Finally, Oakworth Capital Inc. purchased a new position in Imperial Oil in the 3rd quarter valued at about $101,000. 20.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Scotiabank reissued a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a research report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $109.00.

Imperial Oil Stock Up 0.1 %

IMO stock opened at $77.13 on Friday. The stock has a market capitalization of $39.94 billion, a P/E 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. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44.

Imperial Oil Cuts Dividend

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

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.