Geode Capital Management LLC Raises Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Geode Capital Management LLC grew its position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 29.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,086,840 shares of the energy company's stock after purchasing an additional 244,176 shares during the period. Geode Capital Management LLC owned approximately 0.21% of Imperial Oil worth $67,634,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in Imperial Oil during the 3rd quarter valued at $28,000. Stifel Financial Corp increased its stake in shares of Imperial Oil by 1.6% in the third quarter. Stifel Financial Corp now owns 100,050 shares of the energy company's stock worth $7,049,000 after acquiring an additional 1,543 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Imperial Oil by 104.0% during the 3rd quarter. Wellington Management Group LLP now owns 60,736 shares of the energy company's stock valued at $4,278,000 after buying an additional 30,965 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Imperial Oil in the third quarter worth approximately $1,210,000. Finally, Barclays PLC increased its stake in shares of Imperial Oil by 27.8% during the 3rd quarter. Barclays PLC now owns 2,838 shares of the energy company's stock worth $200,000 after purchasing an additional 617 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company's stock.

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Wall Street Analyst Weigh In

IMO has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut Imperial Oil from a "neutral" rating to a "sell" rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. cut shares of Imperial Oil from a "neutral" rating to an "underweight" rating in a research note on Thursday, December 19th. Raymond James upgraded shares of Imperial Oil from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Wolfe Research cut shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $101.00 price objective on shares of Imperial Oil in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $106.33.

Imperial Oil Price Performance

Shares of NYSEAMERICAN IMO traded down $1.25 during trading hours on Tuesday, reaching $60.95. 378,728 shares of the stock traded hands, compared to its average volume of 442,340. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $80.17. The company's 50-day simple moving average is $68.04 and its two-hundred day simple moving average is $69.93. The company has a market capitalization of $31.03 billion, a P/E ratio of 9.25 and a beta of 1.44.

Imperial Oil Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Wednesday, March 5th. This represents a $1.99 annualized dividend and a yield of 3.26%. This is a positive change from Imperial Oil's previous quarterly dividend of $0.43. Imperial Oil's payout ratio is presently 25.80%.

Imperial Oil 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.