USS Investment Management Ltd acquired a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 51,108 shares of the energy company's stock, valued at approximately $3,152,000.
Other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its stake in Imperial Oil by 16.9% during the 4th quarter. FMR LLC now owns 43,162,088 shares of the energy company's stock worth $2,659,965,000 after buying an additional 6,228,461 shares during the period. TD Asset Management Inc. grew its holdings in shares of Imperial Oil by 2.2% during the 4th quarter. TD Asset Management Inc. now owns 4,825,945 shares of the energy company's stock worth $297,268,000 after acquiring an additional 105,970 shares during the period. Bank of America Corp DE lifted its position in Imperial Oil by 1.1% in the 4th quarter. Bank of America Corp DE now owns 2,398,899 shares of the energy company's stock valued at $147,772,000 after acquiring an additional 26,891 shares in the last quarter. Geode Capital Management LLC raised its stake in Imperial Oil by 29.0% during the 4th quarter. Geode Capital Management LLC now owns 1,086,840 shares of the energy company's stock valued at $67,634,000 after buying an additional 244,176 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Imperial Oil by 29.0% in the 4th quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company's stock worth $58,212,000 after purchasing an additional 212,707 shares in the last quarter. Institutional investors own 20.74% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $101.00 target price on shares of Imperial Oil in a research report on Thursday, April 3rd. The Goldman Sachs Group downgraded shares of Imperial Oil from a "neutral" rating to a "sell" rating in a research report on Thursday, March 27th. Wolfe Research raised shares of Imperial Oil from a "peer perform" rating to an "outperform" rating in a report on Monday, April 21st. Raymond James reissued an "outperform" rating on shares of Imperial Oil in a research note on Monday, May 5th. Finally, Scotiabank raised shares of Imperial Oil to a "hold" rating in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $106.33.
Read Our Latest Report on IMO
Imperial Oil Stock Performance
Shares of NYSEAMERICAN:IMO traded up $0.01 on Thursday, reaching $71.73. 113,678 shares of the company's stock were exchanged, compared to its average volume of 449,723. The firm has a market capitalization of $36.51 billion, a price-to-earnings ratio of 10.88 and a beta of 1.44. Imperial Oil Limited has a fifty-two week low of $58.76 and a fifty-two week high of $80.17. The business's 50-day moving average is $68.48 and its two-hundred day moving average is $69.91. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17.
Imperial Oil Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.523 per share. This is a positive change from Imperial Oil's previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, June 4th. This represents a $2.09 annualized dividend and a dividend yield of 2.92%. Imperial Oil's dividend payout ratio (DPR) is 25.80%.
Imperial Oil 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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