Scotia Capital Inc. Increases Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

Scotia Capital Inc. lifted its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 240,695 shares of the energy company's stock after acquiring an additional 11,004 shares during the period. Scotia Capital Inc.'s holdings in Imperial Oil were worth $14,825,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Imperial Oil by 9.1% during the third quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company's stock valued at $59,502,000 after purchasing an additional 70,357 shares during the period. Mediolanum International Funds Ltd grew its stake in Imperial Oil by 42.8% in the 4th quarter. Mediolanum International Funds Ltd now owns 14,364 shares of the energy company's stock worth $874,000 after acquiring an additional 4,308 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Imperial Oil by 29.0% during the fourth quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company's stock worth $58,212,000 after acquiring an additional 212,707 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Imperial Oil during the third quarter valued at approximately $28,000. Finally, Stevens Capital Management LP bought a new position in Imperial Oil in the fourth quarter worth approximately $258,000. Hedge funds and other institutional investors own 20.74% of the company's stock.

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Imperial Oil Stock Performance

NYSEAMERICAN:IMO traded down $1.25 during mid-day trading on Tuesday, hitting $60.95. The company's stock had a trading volume of 345,233 shares, compared to its average volume of 441,948. The business's fifty day moving average is $68.25 and its two-hundred day moving average is $69.99. The stock has a market cap of $31.03 billion, a price-to-earnings ratio of 9.25 and a beta of 1.44. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $80.17. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th were paid a $0.4972 dividend. This is a boost from Imperial Oil's previous quarterly dividend of $0.43. This represents a $1.99 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Wednesday, March 5th. Imperial Oil's payout ratio is currently 25.80%.

Analyst Ratings Changes

A number of equities analysts recently commented on IMO shares. Royal Bank of Canada reissued a "sector perform" rating and issued a $101.00 price objective on shares of Imperial Oil in a research note on Thursday, April 3rd. The Goldman Sachs Group lowered Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th. Wolfe Research downgraded shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Raymond James upgraded shares of Imperial Oil from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lowered Imperial Oil from a "neutral" rating to an "underweight" rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $106.33.

Imperial Oil Company 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.