Geode Capital Management LLC Acquires 70,357 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Geode Capital Management LLC increased its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 9.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 842,664 shares of the energy company's stock after purchasing an additional 70,357 shares during the quarter. Geode Capital Management LLC owned approximately 0.16% of Imperial Oil worth $59,502,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in Imperial Oil in the 2nd quarter worth $257,000. Burney Co. increased its position in shares of Imperial Oil by 9.1% during the second quarter. Burney Co. now owns 30,394 shares of the energy company's stock valued at $2,074,000 after purchasing an additional 2,532 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Imperial Oil by 36.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 121,910 shares of the energy company's stock valued at $8,311,000 after purchasing an additional 32,429 shares in the last quarter. Principal Financial Group Inc. lifted its position in Imperial Oil by 29.6% in the second quarter. Principal Financial Group Inc. now owns 17,542 shares of the energy company's stock worth $1,196,000 after purchasing an additional 4,002 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its stake in Imperial Oil by 6.5% during the second quarter. Crossmark Global Holdings Inc. now owns 17,967 shares of the energy company's stock worth $1,226,000 after buying an additional 1,103 shares in the last quarter. Institutional investors own 20.74% of the company's stock.

Imperial Oil Trading Down 1.2 %

Shares of IMO traded down $0.78 during trading hours on Friday, hitting $61.73. 880,512 shares of the stock traded hands, compared to its average volume of 413,228. The firm has a market capitalization of $31.64 billion, a PE ratio of 9.20 and a beta of 1.42. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a 1-year low of $54.58 and a 1-year high of $80.17.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd will be given a $0.4304 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 annualized dividend and a dividend yield of 2.79%. Imperial Oil's dividend payout ratio is currently 26.38%.

Wall Street Analysts Forecast Growth

IMO has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut Imperial Oil from a "neutral" rating to an "underweight" rating in a report on Thursday. StockNews.com lowered Imperial Oil from a "buy" rating to a "hold" rating in a research note on Wednesday, August 28th. Finally, Scotiabank reissued a "sector perform" rating and set a $110.00 price objective on shares of Imperial Oil in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $109.00.

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.