Bank of Nova Scotia reduced its position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 30.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 570,448 shares of the energy company's stock after selling 249,429 shares during the period. Bank of Nova Scotia owned 0.11% of Imperial Oil worth $35,151,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Imperial Oil by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company's stock worth $59,502,000 after purchasing an additional 70,357 shares during the last quarter. Mediolanum International Funds Ltd grew its holdings in shares of Imperial Oil by 42.8% during the fourth quarter. Mediolanum International Funds Ltd now owns 14,364 shares of the energy company's stock worth $874,000 after buying an additional 4,308 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Imperial Oil in the 3rd quarter valued at about $28,000. JPMorgan Chase & Co. increased its position in Imperial Oil by 29.0% in the 4th quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company's stock valued at $58,212,000 after acquiring an additional 212,707 shares during the period. Finally, Barclays PLC raised its stake in Imperial Oil by 27.8% during the 3rd quarter. Barclays PLC now owns 2,838 shares of the energy company's stock valued at $200,000 after acquiring an additional 617 shares during the last quarter. 20.74% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $101.00 target price on shares of Imperial Oil in a report on Thursday, April 3rd. The Goldman Sachs Group lowered Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday, March 27th. Scotiabank raised Imperial Oil to a "hold" rating in a research note on Wednesday, March 19th. Wolfe Research cut Imperial Oil from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. lowered Imperial Oil from a "neutral" rating to an "underweight" rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $106.33.
View Our Latest Stock Report on IMO
Imperial Oil Price Performance
Shares of NYSEAMERICAN:IMO traded down $0.33 during trading on Monday, hitting $62.25. 133,179 shares of the stock were exchanged, compared to its average volume of 524,743. 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 $31.69 billion, a PE ratio of 9.45 and a beta of 1.44. The company has a fifty day moving average price of $68.41 and a two-hundred day moving average price of $70.04. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17.
Imperial Oil Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th were issued a $0.4972 dividend. This represents a $1.99 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Wednesday, March 5th. This is an increase from Imperial Oil's previous quarterly dividend of $0.43. Imperial Oil's dividend payout ratio is 25.80%.
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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