Fmr LLC Buys 1,331,235 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

FMR LLC raised its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,933,627 shares of the energy company's stock after acquiring an additional 1,331,235 shares during the period. FMR LLC owned approximately 6.99% of Imperial Oil worth $2,598,604,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in IMO. Virtu Financial LLC bought a new position in Imperial Oil during the first quarter worth about $395,000. Burney Co. grew its position in Imperial Oil by 3.4% in the first quarter. Burney Co. now owns 27,862 shares of the energy company's stock valued at $1,926,000 after acquiring an additional 908 shares during the period. EverSource Wealth Advisors LLC raised its stake in Imperial Oil by 8.8% during the first quarter. EverSource Wealth Advisors LLC now owns 3,145 shares of the energy company's stock worth $216,000 after acquiring an additional 255 shares in the last quarter. Baker Ellis Asset Management LLC bought a new position in shares of Imperial Oil during the second quarter valued at $423,000. Finally, CWM LLC boosted its stake in shares of Imperial Oil by 8.7% in the 2nd quarter. CWM LLC now owns 2,319 shares of the energy company's stock valued at $158,000 after purchasing an additional 185 shares in the last quarter. 20.74% of the stock is owned by institutional investors and hedge funds.

Imperial Oil Stock Performance

IMO traded down $2.13 on Tuesday, hitting $73.55. 340,038 shares of the company were exchanged, compared to its average volume of 395,066. Imperial Oil Limited has a 12 month low of $52.97 and a 12 month 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 1.44. The firm has a market capitalization of $38.09 billion, a PE ratio of 11.28 and a beta of 1.44.

Imperial Oil Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be paid a $0.4304 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 annualized dividend and a yield of 2.34%. Imperial Oil's dividend payout ratio (DPR) is currently 26.53%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IMO. Scotiabank reaffirmed a "sector perform" rating and set a $110.00 price target on shares of Imperial Oil in a report on Wednesday, September 25th. StockNews.com lowered Imperial Oil from a "buy" rating to a "hold" rating in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Imperial Oil has a consensus rating of "Hold" and a consensus price target of $109.00.

Imperial Oil Company Profile

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.