Bank of New York Mellon Corp lifted its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,304 shares of the energy company's stock after purchasing an additional 8,198 shares during the period. Bank of New York Mellon Corp's holdings in Imperial Oil were worth $14,988,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in IMO. Geode Capital Management LLC lifted its holdings in shares of Imperial Oil by 9.1% during the third quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company's stock valued at $59,502,000 after purchasing an additional 70,357 shares during the last quarter. Mediolanum International Funds Ltd lifted its stake in Imperial Oil by 42.8% during the fourth quarter. Mediolanum International Funds Ltd now owns 14,364 shares of the energy company's stock valued at $874,000 after buying an additional 4,308 shares in the last quarter. Bridgewater Associates LP boosted its holdings in shares of Imperial Oil by 522.8% in the third quarter. Bridgewater Associates LP now owns 201,126 shares of the energy company's stock worth $14,166,000 after buying an additional 168,831 shares during the period. National Bank of Canada FI increased its position in shares of Imperial Oil by 13.3% in the third quarter. National Bank of Canada FI now owns 751,038 shares of the energy company's stock worth $52,885,000 after acquiring an additional 87,914 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Imperial Oil during the third quarter valued at approximately $28,000. 20.74% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on IMO shares. Wolfe Research lowered shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. downgraded Imperial Oil from a "neutral" rating to an "underweight" rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $109.00.
View Our Latest Research Report on Imperial Oil
Imperial Oil Trading Down 0.7 %
IMO stock traded down $0.44 during midday trading on Thursday, reaching $66.62. The company had a trading volume of 326,242 shares, compared to its average volume of 430,829. The company's 50 day moving average price is $67.45. The stock has a market capitalization of $33.91 billion, a P/E ratio of 10.11 and a beta of 1.44. Imperial Oil Limited has a 1 year low of $60.95 and a 1 year high of $80.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.23.
Imperial Oil Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th will be paid a $0.4972 dividend. This is a boost from Imperial Oil's previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 5th. This represents a $1.99 annualized dividend and a dividend yield of 2.98%. Imperial Oil's payout ratio is presently 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.
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