Arrowstreet Capital Limited Partnership acquired a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 78,744 shares of the energy company's stock, valued at approximately $4,848,000.
A number of other institutional investors have also recently modified their holdings of IMO. JPMorgan Chase & Co. increased its stake in Imperial Oil by 29.0% in the fourth quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company's stock valued at $58,212,000 after acquiring an additional 212,707 shares during the last quarter. Guardian Partners Inc. bought a new position in shares of Imperial Oil in the 4th quarter valued at $10,890,000. Raymond James Financial Inc. acquired a new position in shares of Imperial Oil during the 4th quarter worth $7,982,000. TD Asset Management Inc. lifted its position in shares of Imperial Oil by 2.2% during the 4th quarter. TD Asset Management Inc. now owns 4,825,945 shares of the energy company's stock worth $297,268,000 after buying an additional 105,970 shares during the last quarter. Finally, Mufg Securities Canada LTD. boosted its stake in Imperial Oil by 68.9% in the fourth quarter. Mufg Securities Canada LTD. now owns 247,769 shares of the energy company's stock valued at $15,260,000 after buying an additional 101,056 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
IMO has been the subject of several research reports. Wolfe Research downgraded shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $101.00 price target on shares of Imperial Oil in a research note on Thursday, April 3rd. Raymond James raised Imperial Oil from a "market perform" rating to an "outperform" rating in a report on Wednesday. Scotiabank raised Imperial Oil to a "hold" rating in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. lowered Imperial Oil from a "neutral" rating to an "underweight" rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Imperial Oil presently has an average rating of "Hold" and an average price target of $106.33.
Check Out Our Latest Report on IMO
Imperial Oil Trading Up 3.8 %
Shares of Imperial Oil stock traded up $2.31 on Friday, reaching $62.58. 615,047 shares of the company's stock were exchanged, compared to its average volume of 442,233. The company has a market capitalization of $31.86 billion, a P/E ratio of 9.50 and a beta of 1.44. Imperial Oil Limited has a 52 week low of $58.76 and a 52 week high of $80.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34. The firm's 50-day moving average is $68.41 and its two-hundred day moving average is $70.04.
Imperial Oil Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th were paid a dividend of $0.4972 per share. This is an increase from Imperial Oil's previous quarterly dividend of $0.43. This represents a $1.99 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Wednesday, March 5th. Imperial Oil's dividend payout ratio is 25.80%.
About Imperial Oil
(
Free Report)
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.
Further Reading
Before you consider Imperial Oil, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Imperial Oil wasn't on the list.
While Imperial Oil currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
