Bessemer Group Inc. Purchases 15,765 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Bessemer Group Inc. boosted its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 198.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,690 shares of the energy company's stock after acquiring an additional 15,765 shares during the quarter. Bessemer Group Inc.'s holdings in Imperial Oil were worth $1,713,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC increased its position in shares of Imperial Oil by 16.9% during the fourth 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. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Imperial Oil during the fourth quarter worth about $19,507,000. Geode Capital Management LLC increased its stake in shares of Imperial Oil by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 1,086,840 shares of the energy company's stock worth $67,634,000 after purchasing an additional 244,176 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Imperial Oil by 29.0% in the fourth 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. Finally, Guardian Partners Inc. bought a new position in shares of Imperial Oil in the fourth quarter valued at approximately $10,890,000. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Price Performance

Shares of IMO stock opened at $79.35 on Friday. Imperial Oil Limited has a fifty-two week low of $58.76 and a fifty-two week high of $82.85. The firm has a market capitalization of $40.39 billion, a price-to-earnings ratio of 11.86 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.22 and a current ratio of 1.48. The stock's 50-day simple moving average is $73.26 and its 200-day simple moving average is $70.27.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th will be paid a dividend of $0.523 per share. This represents a $2.09 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Wednesday, June 4th. This is an increase from Imperial Oil's previous quarterly dividend of $0.50. Imperial Oil's dividend payout ratio (DPR) is currently 31.87%.

Wall Street Analyst Weigh In

IMO has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $101.00 target price on shares of Imperial Oil in a research note on Thursday, April 3rd. Wolfe Research raised shares of Imperial Oil from a "peer perform" rating to an "outperform" rating in a research report on Monday, April 21st. 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. Scotiabank raised shares of Imperial Oil to a "hold" rating in a research report on Wednesday, March 19th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Imperial Oil in a research report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus 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.

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