Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. trimmed its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 48.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,344 shares of the energy company’s stock after selling 8,623 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Imperial Oil were worth $658,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. RFP Financial Group LLC purchased a new stake in Imperial Oil during the second quarter worth approximately $25,000. Grove Bank & Trust lifted its position in shares of Imperial Oil by 438.0% during the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock worth $38,000 after buying an additional 438 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Imperial Oil in the 1st quarter valued at $46,000. Hexagon Capital Partners LLC grew its position in shares of Imperial Oil by 45.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 718 shares of the energy company’s stock valued at $49,000 after buying an additional 225 shares during the last quarter. Finally, Allworth Financial LP raised its stake in Imperial Oil by 21.0% during the 3rd quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock worth $95,000 after acquiring an additional 234 shares in the last quarter. 20.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Scotiabank reaffirmed a “sector perform” rating and set a $110.00 price objective on shares of Imperial Oil in a research note on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $109.00.

Imperial Oil Stock Performance

IMO stock opened at $73.98 on Friday. Imperial Oil Limited has a 52-week low of $52.97 and a 52-week high of $80.17. The company has a market cap of $38.31 billion, a price-to-earnings ratio of 11.03 and a beta of 1.44. The company has a current ratio of 1.44, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be issued a $0.4304 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a yield of 2.33%. Imperial Oil’s dividend payout ratio is currently 26.53%.

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.