Freedom Investment Management Inc. Trims Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Freedom Investment Management Inc. trimmed its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 15.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,253 shares of the energy company’s stock after selling 785 shares during the quarter. Freedom Investment Management Inc.’s holdings in Imperial Oil were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. RFP Financial Group LLC purchased a new stake in shares of Imperial Oil in the second quarter worth $25,000. BNP Paribas Financial Markets purchased a new stake in Imperial Oil during the 3rd quarter valued at about $28,000. Grove Bank & Trust increased its stake 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 valued at $49,000 after purchasing an additional 225 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Imperial Oil by 21.0% in the third 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. 20.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Imperial Oil Stock Up 1.1 %

Shares of IMO stock opened at $73.92 on Friday. The company has a market cap of $38.28 billion, a price-to-earnings ratio of 11.02 and a beta of 1.44. Imperial Oil Limited has a 12 month low of $52.97 and a 12 month high of $80.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.23.

Imperial Oil Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be given 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 2.33%. Imperial Oil’s dividend payout ratio (DPR) is presently 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.