Imperial Oil Limited (NYSEAMERICAN:IMO) Stock Position Trimmed by Citigroup Inc.

Citigroup Inc. cut its position in Imperial Oil Limited (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) by 18.4% during the 4th quarter, HoldingsChannel reports. The firm owned 38,215 shares of the energy company’s stock after selling 8,630 shares during the quarter. Citigroup Inc.’s holdings in Imperial Oil were worth $1,860,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of IMO. Raymond James & Associates bought a new stake in shares of Imperial Oil during the 1st quarter worth about $293,000. HighTower Advisors LLC bought a new stake in shares of Imperial Oil during the 1st quarter worth about $241,000. Natixis Advisors L.P. raised its holdings in shares of Imperial Oil by 3.8% in the 1st quarter. Natixis Advisors L.P. now owns 24,345 shares of the energy company’s stock worth $1,176,000 after purchasing an additional 895 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Imperial Oil by 3.7% in the 1st quarter. BlackRock Inc. now owns 316,626 shares of the energy company’s stock worth $15,299,000 after purchasing an additional 11,431 shares in the last quarter. Finally, Yousif Capital Management LLC bought a new stake in shares of Imperial Oil in the 1st quarter worth approximately $533,000. 20.18% of the stock is currently owned by institutional investors.

Imperial Oil Stock Performance

Shares of IMO opened at $46.96 on Friday. The company’s 50 day moving average price is $48.95 and its 200 day moving average price is $50.76. Imperial Oil Limited has a 52 week low of $39.95 and a 52 week high of $58.99. The company has a market capitalization of $27.43 billion, a PE ratio of 5.33, a PEG ratio of 0.32 and a beta of 1.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.04 and a current ratio of 1.21.

Imperial Oil (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) last posted its earnings results on Friday, April 28th. The energy company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.13. Imperial Oil had a net margin of 12.30% and a return on equity of 31.73%. The firm had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $11.38 billion. Research analysts expect that Imperial Oil Limited will post 5.73 EPS for the current fiscal year.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 2nd will be paid a $0.3674 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 3.13%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, June 1st. Imperial Oil’s payout ratio is presently 14.64%.

Wall Street Analyst Weigh In

A number of research firms recently commented on IMO. Royal Bank of Canada downgraded shares of Imperial Oil from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $82.00 to $78.00 in a report on Wednesday, April 12th. StockNews.com initiated coverage on shares of Imperial Oil in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Raymond James lifted their target price on shares of Imperial Oil from C$70.00 to C$74.00 in a research report on Wednesday, February 1st. Finally, Scotiabank raised shares of Imperial Oil from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, March 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $79.00.

About Imperial Oil

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Imperial Oil Ltd. engages in the exploration, production, and sale of crude oil and natural gas. It operates through the following business segments: Upstream, Downstream, Chemical, and Corporate and Other. The Upstream segment includes the exploration and production of crude oil, natural gas, synthetic oil, and bitumen.