Korea Investment CORP Buys 47,000 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Korea Investment CORP lifted its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 73.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 110,891 shares of the energy company's stock after acquiring an additional 47,000 shares during the quarter. Korea Investment CORP's holdings in Imperial Oil were worth $6,831,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IMO. Guardian Partners Inc. purchased a new stake in Imperial Oil during the 4th quarter worth about $10,890,000. Raymond James Financial Inc. purchased a new position in shares of Imperial Oil during the fourth quarter worth about $7,982,000. Erste Asset Management GmbH purchased a new stake in Imperial Oil during the third quarter valued at about $8,917,000. TD Asset Management Inc. lifted its position 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 during the last quarter. Finally, Mufg Securities Canada LTD. lifted its holdings in shares of 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 acquiring an additional 101,056 shares during the last quarter. Institutional investors own 20.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Scotiabank upgraded shares of Imperial Oil to a "hold" rating in a report on Wednesday, March 19th. Royal Bank of Canada reiterated a "sector perform" rating and set a $101.00 price objective on shares of Imperial Oil in a research note on Thursday. JPMorgan Chase & Co. downgraded shares of Imperial Oil from a "neutral" rating to an "underweight" rating in a research report on Thursday, December 19th. The Goldman Sachs Group cut Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th. Finally, Wolfe Research downgraded 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 and five have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $106.33.

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Imperial Oil Stock Performance

Shares of IMO stock traded down $5.12 on Friday, reaching $63.47. The stock had a trading volume of 938,954 shares, compared to its average volume of 434,588. The firm has a market cap of $32.31 billion, a PE ratio of 9.63 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 Limited has a 1 year low of $60.95 and a 1 year high of $80.17. The stock's 50 day simple moving average is $69.57.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.4972 per share. This is an increase from Imperial Oil's previous quarterly dividend of $0.43. This represents a $1.99 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Wednesday, March 5th. Imperial Oil's payout ratio is currently 25.80%.

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.