Mufg Securities Canada LTD. lifted its position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 68.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 247,769 shares of the energy company's stock after purchasing an additional 101,056 shares during the period. Mufg Securities Canada LTD.'s holdings in Imperial Oil were worth $15,260,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Imperial Oil by 3.7% in the 3rd quarter. FMR LLC now owns 36,933,627 shares of the energy company's stock valued at $2,598,604,000 after purchasing an additional 1,331,235 shares in the last quarter. TD Asset Management Inc. increased its holdings in Imperial Oil by 2.2% during the fourth quarter. TD Asset Management Inc. now owns 4,825,945 shares of the energy company's stock valued at $297,268,000 after buying an additional 105,970 shares during the period. The Manufacturers Life Insurance Company raised its stake in Imperial Oil by 8.4% in the third quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company's stock worth $311,175,000 after buying an additional 341,689 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Imperial Oil by 9.1% during the third quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company's stock worth $59,502,000 after buying an additional 70,357 shares during the period. Finally, National Bank of Canada FI boosted its position in Imperial Oil by 13.3% during the 3rd quarter. National Bank of Canada FI now owns 751,038 shares of the energy company's stock valued at $52,885,000 after acquiring an additional 87,914 shares in the last quarter. Institutional investors own 20.74% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on IMO. The Goldman Sachs Group cut shares of Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday. Wolfe Research downgraded Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. cut Imperial Oil from a "neutral" rating to an "underweight" rating in a research report on Thursday, December 19th. Finally, Scotiabank raised Imperial Oil to a "hold" rating in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, Imperial Oil currently has an average rating of "Hold" and an average target price of $109.00.
View Our Latest Stock Analysis on Imperial Oil
Imperial Oil Trading Down 2.0 %
Imperial Oil stock traded down $1.43 during mid-day trading on Friday, hitting $70.84. The company had a trading volume of 329,051 shares, compared to its average volume of 433,503. The stock has a market cap of $36.06 billion, a P/E ratio of 10.75 and a beta of 1.44. Imperial Oil Limited has a 12-month low of $60.95 and a 12-month high of $80.17. The firm's fifty day moving average is $69.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.23.
Imperial Oil Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.4972 per share. This represents a $1.99 annualized dividend and a dividend yield of 2.81%. This is an increase from Imperial Oil's previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 5th. Imperial Oil's dividend payout ratio is presently 25.80%.
Imperial Oil Company Profile
(
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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