2,983 Shares in Imperial Oil Limited $IMO Bought by PDS Planning Inc

Key Points

• PDS Planning Inc acquired 2,983 shares of Imperial Oil Limited, valued at approximately $237,000, marking a new stake in the company for the second quarter.
• Several institutional investors have significantly increased their holdings in Imperial Oil, with Canada Pension Plan Investment Board boosting its stake by 1,233.1% during the first quarter.
• Imperial Oil has increased its quarterly dividend from $0.52 to $0.72 per share, resulting in a 3.3% dividend yield for shareholders.

PDS Planning Inc bought a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,983 shares of the energy company's stock, valued at approximately $237,000.

Other hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Imperial Oil by 395.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,546,520 shares of the energy company's stock valued at $328,804,000 after purchasing an additional 3,629,568 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Imperial Oil by 273.2% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 658,949 shares of the energy company's stock worth $47,607,000 after buying an additional 482,393 shares during the period. Canada Pension Plan Investment Board lifted its stake in Imperial Oil by 1,233.1% in the first quarter. Canada Pension Plan Investment Board now owns 498,056 shares of the energy company's stock valued at $35,983,000 after buying an additional 460,696 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Imperial Oil by 54.7% in the first quarter. Mackenzie Financial Corp now owns 690,024 shares of the energy company's stock valued at $49,842,000 after buying an additional 243,894 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Imperial Oil in the first quarter valued at approximately $13,673,000. Institutional investors and hedge funds own 20.74% of the company's stock.

Analysts Set New Price Targets

IMO has been the topic of several research reports. Royal Bank Of Canada boosted their price objective on shares of Imperial Oil from $108.00 to $115.00 and gave the company a "sector perform" rating in a research report on Thursday, September 25th. Wolfe Research downgraded Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 23rd. Zacks Research lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, October 3rd. Raymond James Financial cut Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Finally, TD Securities downgraded Imperial Oil from a "hold" rating to a "sell" rating in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, Imperial Oil currently has an average rating of "Reduce" and an average target price of $115.00.

Imperial Oil Trading Down 1.2%

NYSEAMERICAN IMO opened at $87.07 on Monday. The company has a market cap of $43.70 billion, a PE ratio of 13.42 and a beta of 0.83. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $96.09. The stock has a 50 day moving average of $88.76 and a 200-day moving average of $79.22. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Thursday, September 4th were paid a dividend of $0.72 per share. The ex-dividend date was Thursday, September 4th. This represents a $2.88 annualized dividend and a dividend yield of 3.3%. This is a boost from Imperial Oil's previous quarterly dividend of $0.52. Imperial Oil's dividend payout ratio (DPR) is presently 31.87%.

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.

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