Bank of New York Mellon Corp lowered its position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 16.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,435 shares of the energy company's stock after selling 43,964 shares during the period. Bank of New York Mellon Corp's holdings in Imperial Oil were worth $29,753,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of Imperial Oil by 30.4% in the 3rd quarter. Bank of America Corp DE now owns 3,840,645 shares of the energy company's stock valued at $348,500,000 after purchasing an additional 895,117 shares during the period. Morgan Stanley raised its holdings in Imperial Oil by 47.9% during the 4th quarter. Morgan Stanley now owns 1,867,363 shares of the energy company's stock worth $161,172,000 after buying an additional 604,447 shares during the period. UBS Group AG lifted its position in Imperial Oil by 21.6% in the 4th quarter. UBS Group AG now owns 1,709,910 shares of the energy company's stock valued at $147,582,000 after acquiring an additional 303,286 shares in the last quarter. Geode Capital Management LLC boosted its stake in Imperial Oil by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 1,693,690 shares of the energy company's stock worth $149,067,000 after purchasing an additional 78,321 shares during the period. Finally, Cibc World Market Inc. boosted its stake in Imperial Oil by 8.4% in the 4th quarter. Cibc World Market Inc. now owns 1,243,738 shares of the energy company's stock worth $107,459,000 after purchasing an additional 96,694 shares during the period. Institutional investors and hedge funds own 20.74% of the company's stock.
Imperial Oil Stock Performance
Shares of NYSEAMERICAN:IMO opened at $128.48 on Monday. Imperial Oil Limited has a 12-month low of $81.87 and a 12-month high of $139.44. The company's 50 day moving average price is $121.36 and its two-hundred day moving average price is $119.29. The firm has a market cap of $62.13 billion, a PE ratio of 30.30 and a beta of 0.45. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.
Imperial Oil Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Thursday, June 4th were paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, June 4th. Imperial Oil's dividend payout ratio (DPR) is presently 38.24%.
Analyst Ratings Changes
Several research firms have commented on IMO. Zacks Research upgraded Imperial Oil from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. Scotiabank restated a "sector perform" rating on shares of Imperial Oil in a research note on Friday, July 17th. TD Securities reaffirmed a "sell" rating on shares of Imperial Oil in a research report on Wednesday, May 13th. Desjardins upgraded Imperial Oil to a "hold" rating in a research note on Thursday, July 16th. Finally, Imperial Capital reissued a "sell" rating on shares of Imperial Oil in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $116.00.
Get Our Latest Report on IMO
Imperial Oil Company Profile
(
Free Report)
Imperial Oil NYSEAMERICAN: IMO is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country's long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.
Imperial's operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.
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