Fruth Investment Management Lowers Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

Fruth Investment Management decreased its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,400 shares of the energy company’s stock after selling 600 shares during the quarter. Fruth Investment Management’s holdings in Imperial Oil were worth $517,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IMO. Caprock Group LLC lifted its holdings in Imperial Oil by 31.9% during the fourth quarter. Caprock Group LLC now owns 15,335 shares of the energy company’s stock valued at $950,000 after purchasing an additional 3,709 shares in the last quarter. Mediolanum International Funds Ltd increased its stake in Imperial Oil by 42.8% during the 4th quarter. Mediolanum International Funds Ltd now owns 14,364 shares of the energy company’s stock worth $874,000 after buying an additional 4,308 shares in the last quarter. OLD National Bancorp IN raised its holdings in shares of Imperial Oil by 5.0% during the fourth quarter. OLD National Bancorp IN now owns 3,920 shares of the energy company’s stock valued at $241,000 after acquiring an additional 187 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Imperial Oil by 19.9% in the fourth quarter. Blue Trust Inc. now owns 11,699 shares of the energy company’s stock valued at $721,000 after acquiring an additional 1,943 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Imperial Oil in the fourth quarter worth approximately $351,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Trading Down 0.4 %

NYSEAMERICAN IMO opened at $66.47 on Thursday. Imperial Oil Limited has a 52 week low of $56.35 and a 52 week high of $80.17. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17. The company has a market cap of $33.84 billion, a price-to-earnings ratio of 10.11 and a beta of 1.44.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th will be issued a $0.4972 dividend. This represents a $1.99 dividend on an annualized basis and a yield of 2.99%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, March 5th. Imperial Oil’s dividend payout ratio is 25.80%.

Wall Street Analysts Forecast Growth

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

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.