Bank of Montreal Can cut its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,908,560 shares of the energy company's stock after selling 80,046 shares during the quarter. Bank of Montreal Can owned 0.57% of Imperial Oil worth $179,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in shares of Imperial Oil in the 3rd quarter worth about $28,000. Integrated Wealth Concepts LLC boosted its stake in Imperial Oil by 4.5% in the third quarter. Integrated Wealth Concepts LLC now owns 9,640 shares of the energy company's stock worth $679,000 after buying an additional 416 shares in the last quarter. Stifel Financial Corp grew its position in Imperial Oil by 1.6% during the third quarter. Stifel Financial Corp now owns 100,050 shares of the energy company's stock valued at $7,049,000 after acquiring an additional 1,543 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Imperial Oil by 104.0% during the third quarter. Wellington Management Group LLP now owns 60,736 shares of the energy company's stock worth $4,278,000 after acquiring an additional 30,965 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in shares of Imperial Oil by 17.5% in the 3rd quarter. XTX Topco Ltd now owns 8,269 shares of the energy company's stock worth $583,000 after acquiring an additional 1,230 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company's stock.
Imperial Oil Trading Up 3.8 %
Shares of Imperial Oil stock traded up $2.31 during midday trading on Friday, reaching $62.58. 615,047 shares of the company's stock traded hands, compared to its average volume of 441,953. The stock has a 50 day moving average of $68.41 and a 200-day moving average of $70.04. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $80.17. The company has a market cap of $31.86 billion, a PE ratio of 9.50 and a beta of 1.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34.
Imperial Oil Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were given a $0.4972 dividend. This represents a $1.99 annualized dividend and a dividend yield of 3.18%. This is a boost from Imperial Oil's previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 5th. Imperial Oil's dividend payout ratio (DPR) is currently 25.80%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on IMO shares. JPMorgan Chase & Co. cut shares of Imperial Oil from a "neutral" rating to an "underweight" rating in a research report on Thursday, December 19th. Wolfe Research lowered Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Royal Bank of Canada restated a "sector perform" rating and set a $101.00 target price on shares of Imperial Oil in a report on Thursday, April 3rd. The Goldman Sachs Group cut Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th. Finally, Scotiabank raised Imperial Oil to a "hold" rating in a research note on Wednesday, March 19th. Two 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 currently has an average rating of "Hold" and an average price target of $106.33.
Check Out Our Latest Research Report on IMO
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.
See Also
Before you consider Imperial Oil, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Imperial Oil wasn't on the list.
While Imperial Oil currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
