Principal Financial Group Inc. Trims Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Principal Financial Group Inc. lessened its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IMO. RFP Financial Group LLC purchased a new position in Imperial Oil during the second quarter worth about $25,000. Grove Bank & Trust boosted its stake in shares of Imperial Oil by 438.0% in the third 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. Hexagon Capital Partners LLC grew its holdings in 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 acquiring an additional 225 shares during the period. Allworth Financial LP lifted its holdings in Imperial Oil by 21.0% in the third quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock valued at $95,000 after acquiring an additional 234 shares during the period. Finally, Oakworth Capital Inc. purchased a new stake in shares of Imperial Oil during the 3rd quarter worth $101,000. 20.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented 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 restated a “sector perform” rating and issued 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 given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $109.00.

Imperial Oil Stock Up 0.1 %

Shares of IMO opened at $77.13 on Friday. Imperial Oil Limited has a twelve month low of $52.97 and a twelve month high of $80.17. The firm has a market capitalization of $39.94 billion, a P/E ratio of 11.49 and a beta of 1.44. 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 disclosed 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. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 annualized dividend and a yield of 2.23%. Imperial Oil’s dividend payout ratio is currently 26.53%.

Imperial Oil 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.