Raymond James Financial Inc. Takes Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Raymond James Financial Inc. purchased a new position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 129,584 shares of the energy company's stock, valued at approximately $7,982,000.

Several other large investors have also added to or reduced their stakes in IMO. Mediolanum International Funds Ltd boosted its position 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 valued at $874,000 after purchasing an additional 4,308 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Imperial Oil by 29.0% during the fourth quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company's stock valued at $58,212,000 after buying an additional 212,707 shares during the period. Stevens Capital Management LP purchased a new stake in shares of Imperial Oil in the 4th quarter worth about $258,000. Barclays PLC increased its stake in shares of Imperial Oil by 27.8% in the 3rd quarter. Barclays PLC now owns 2,838 shares of the energy company's stock worth $200,000 after acquiring an additional 617 shares in the last quarter. Finally, US Bancorp DE lifted its position in Imperial Oil by 1.5% during the 4th quarter. US Bancorp DE now owns 20,408 shares of the energy company's stock valued at $1,257,000 after acquiring an additional 296 shares during the period. Institutional investors own 20.74% of the company's stock.

Imperial Oil Stock Up 4.8 %

IMO stock opened at $67.97 on Wednesday. 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 Limited has a 1-year low of $58.76 and a 1-year high of $80.17. The stock has a market capitalization of $34.60 billion, a P/E ratio of 10.31 and a beta of 1.44. The business has a fifty day moving average price of $67.82 and a 200-day moving average price of $69.78.

Imperial Oil Increases Dividend

The business also recently announced 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. The ex-dividend date was Wednesday, March 5th. This represents a $1.99 annualized dividend and a yield of 2.93%. This is a boost from Imperial Oil's previous quarterly dividend of $0.43. Imperial Oil's dividend payout ratio is currently 25.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wolfe Research upgraded shares of Imperial Oil from a "peer perform" rating to an "outperform" rating in a report on Monday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $101.00 price objective on shares of Imperial Oil in a research report on Thursday, April 3rd. Scotiabank raised Imperial Oil to a "hold" rating in a report on Wednesday, March 19th. The Goldman Sachs Group lowered Imperial Oil from a "neutral" rating to a "sell" rating in a research report on Thursday, March 27th. Finally, Raymond James raised shares of Imperial Oil from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $106.33.

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.

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