Dynamic Technology Lab Private Ltd bought a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,730 shares of the energy company's stock, valued at approximately $415,000.
A number of other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Imperial Oil by 29.0% during the fourth quarter. Geode Capital Management LLC now owns 1,086,840 shares of the energy company's stock worth $67,634,000 after purchasing an additional 244,176 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Imperial Oil by 29.0% during the fourth quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company's stock worth $58,212,000 after purchasing an additional 212,707 shares in the last quarter. Guardian Partners Inc. purchased a new stake in shares of Imperial Oil during the 4th quarter worth approximately $10,890,000. Raymond James Financial Inc. purchased a new stake in shares of Imperial Oil during the 4th quarter worth approximately $7,982,000. Finally, TD Asset Management Inc. boosted its holdings in shares of Imperial Oil by 2.2% in the 4th quarter. TD Asset Management Inc. now owns 4,825,945 shares of the energy company's stock valued at $297,268,000 after buying an additional 105,970 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company's stock.
Imperial Oil Stock Performance
NYSEAMERICAN:IMO traded up $0.22 during midday trading on Tuesday, reaching $62.42. The stock had a trading volume of 87,554 shares, compared to its average volume of 440,951. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. The stock has a market cap of $31.77 billion, a P/E ratio of 9.47 and a beta of 1.44. The firm has a fifty day simple moving average of $68.25 and a two-hundred day simple moving average of $69.99. Imperial Oil Limited has a 12-month low of $58.76 and a 12-month high of $80.17.
Imperial Oil Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were issued a $0.4972 dividend. This is an increase from Imperial Oil's previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.99 annualized dividend and a dividend yield of 3.19%. Imperial Oil's payout ratio is presently 25.80%.
Analyst Upgrades and Downgrades
Several research firms have commented on IMO. Raymond James raised Imperial Oil from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. The Goldman Sachs Group lowered shares of Imperial Oil from a "neutral" rating to a "sell" rating in a research report on Thursday, March 27th. Wolfe Research downgraded shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Royal Bank of Canada reissued a "sector perform" rating and set a $101.00 price objective on shares of Imperial Oil in a research report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. cut shares of Imperial Oil from a "neutral" rating to an "underweight" rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $106.33.
Check Out Our Latest Research Report on Imperial Oil
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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