JPMorgan Chase & Co. Boosts Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

JPMorgan Chase & Co. boosted its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 29.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 945,002 shares of the energy company's stock after purchasing an additional 212,707 shares during the period. JPMorgan Chase & Co. owned about 0.19% of Imperial Oil worth $58,212,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of IMO. Korea Investment CORP boosted its position in shares of Imperial Oil by 73.6% in the fourth quarter. Korea Investment CORP now owns 110,891 shares of the energy company's stock worth $6,831,000 after purchasing an additional 47,000 shares during the period. Mufg Securities Canada LTD. boosted its holdings in Imperial Oil by 68.9% in the 4th quarter. Mufg Securities Canada LTD. now owns 247,769 shares of the energy company's stock worth $15,260,000 after buying an additional 101,056 shares during the period. TD Asset Management Inc. increased its stake in Imperial Oil by 2.2% in the 4th quarter. TD Asset Management Inc. now owns 4,825,945 shares of the energy company's stock worth $297,268,000 after buying an additional 105,970 shares in the last quarter. Stevens Capital Management LP bought a new stake in Imperial Oil during the fourth quarter valued at about $258,000. Finally, LPL Financial LLC lifted its position in shares of Imperial Oil by 3.5% in the fourth quarter. LPL Financial LLC now owns 47,255 shares of the energy company's stock valued at $2,911,000 after acquiring an additional 1,617 shares in the last quarter. Institutional investors own 20.74% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. The Goldman Sachs Group downgraded Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th. Scotiabank upgraded shares of Imperial Oil to a "hold" rating in a research report on Wednesday, March 19th. JPMorgan Chase & Co. lowered shares of Imperial Oil from a "neutral" rating to an "underweight" rating in a research report on Thursday, December 19th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $101.00 price target on shares of Imperial Oil in a report on Thursday, April 3rd. Finally, Wolfe Research downgraded shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Two 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. 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

IMO traded up $4.39 during trading hours on Wednesday, hitting $64.61. The company's stock had a trading volume of 964,996 shares, compared to its average volume of 441,356. Imperial Oil Limited has a 12 month low of $58.79 and a 12 month high of $80.17. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The business's 50-day moving average price is $68.77 and its 200-day moving average price is $70.12. The stock has a market cap of $32.89 billion, a price-to-earnings ratio of 9.80 and a beta of 1.44.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were given a dividend of $0.4972 per share. This represents a $1.99 annualized dividend and a dividend yield of 3.08%. 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 is currently 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.