Hara Capital LLC Lowers Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

Hara Capital LLC trimmed its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 25.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,460 shares of the energy company’s stock after selling 4,168 shares during the quarter. Hara Capital LLC’s holdings in Imperial Oil were worth $878,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. RFP Financial Group LLC purchased a new position in Imperial Oil in the second quarter valued at about $25,000. Grove Bank & Trust boosted its holdings in Imperial Oil by 438.0% in the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock worth $38,000 after acquiring an additional 438 shares during the period. Headlands Technologies LLC acquired a new stake in Imperial Oil in the first quarter valued at approximately $46,000. Hexagon Capital Partners LLC raised its stake in shares of Imperial Oil by 45.6% during the second 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 during the period. Finally, Allworth Financial LP lifted its position in shares of Imperial Oil by 21.0% during the third quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock worth $95,000 after purchasing an additional 234 shares in the last quarter. 20.74% of the stock is owned by institutional investors and hedge funds.

Imperial Oil Stock Up 1.4 %

Shares of IMO stock traded up $1.04 during midday trading on Thursday, reaching $73.38. 43,890 shares of the company were exchanged, compared to its average volume of 399,144. The company has a market capitalization of $38.78 billion, a price-to-earnings ratio of 10.55 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 current ratio of 1.40, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17.

Imperial Oil Cuts Dividend

The firm also recently declared 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. This represents a $1.72 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, December 3rd. Imperial Oil’s payout ratio is 26.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Scotiabank restated a “sector perform” rating and set a $110.00 price objective on shares of Imperial Oil in a report on Wednesday, September 25th. Wolfe Research began coverage on Imperial Oil in a report on Thursday, July 18th. They issued an “outperform” rating and a $108.00 price target for the company. Finally, StockNews.com cut Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $101.00.

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.