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

Principal Financial Group Inc. reduced its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,596 shares of the energy company’s stock after selling 1,040 shares during the quarter. Principal Financial Group Inc.’s holdings in Imperial Oil were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in IMO. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Imperial Oil in the 3rd quarter worth about $543,000. Radnor Capital Management LLC purchased a new stake in shares of Imperial Oil in the third quarter valued at about $314,000. Olympiad Research LP acquired a new stake in shares of Imperial Oil in the third quarter valued at approximately $388,000. Gold Investment Management Ltd. increased its stake in shares of Imperial Oil by 2.0% during the 3rd quarter. Gold Investment Management Ltd. now owns 27,718 shares of the energy company’s stock worth $1,948,000 after purchasing an additional 537 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new position in shares of Imperial Oil during the 3rd quarter worth approximately $948,000. 20.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on IMO shares. JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, Imperial Oil currently has a consensus rating of “Hold” and an average target price of $109.00.

Imperial Oil Stock Performance

Shares of IMO opened at $65.13 on Friday. Imperial Oil Limited has a 1 year low of $60.95 and a 1 year high of $80.17. The firm’s 50 day moving average price is $67.25. The stock has a market capitalization of $33.15 billion, a P/E ratio of 9.88 and a beta of 1.44. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.4972 per share. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 5th. This represents a $1.99 annualized dividend and a dividend yield of 3.05%. Imperial Oil’s dividend payout ratio (DPR) is 25.80%.

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.