Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Bought by Bessemer Group Inc.

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its position in Imperial Oil by 16.9% during the fourth quarter. FMR LLC now owns 43,162,088 shares of the energy company's stock valued at $2,659,965,000 after acquiring an additional 6,228,461 shares in the last quarter. TD Asset Management Inc. boosted its holdings in Imperial Oil by 2.2% during the fourth quarter. TD Asset Management Inc. now owns 4,825,945 shares of the energy company's stock worth $297,268,000 after buying an additional 105,970 shares in the last quarter. Bank of America Corp DE grew its position in Imperial Oil by 1.1% during the fourth quarter. Bank of America Corp DE now owns 2,398,899 shares of the energy company's stock valued at $147,772,000 after buying an additional 26,891 shares during the period. Geode Capital Management LLC grew its position in Imperial Oil by 29.0% during the fourth 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 period. Finally, JPMorgan Chase & Co. increased its holdings in Imperial Oil by 29.0% in the fourth quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company's stock valued at $58,212,000 after buying an additional 212,707 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company's stock.

Analysts Set New Price Targets

IMO has been the topic of a number of research analyst reports. Raymond James Financial reissued an "outperform" rating on shares of Imperial Oil in a research note on Monday, May 5th. Wolfe Research raised shares of Imperial Oil from a "peer perform" rating to an "outperform" rating in a research note on Monday, April 21st. The Goldman Sachs Group lowered shares of Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th. Desjardins cut Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. Finally, Scotiabank upgraded Imperial Oil to a "hold" rating in a research note on Wednesday, March 19th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Imperial Oil has an average rating of "Hold" and a consensus price target of $106.33.

Imperial Oil Trading Up 0.3%

NYSEAMERICAN IMO traded up $0.23 during trading on Wednesday, hitting $80.67. The stock had a trading volume of 188,758 shares, compared to its average volume of 454,020. The company has a quick ratio of 1.22, a current ratio of 1.48 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $41.07 billion, a PE ratio of 12.07 and a beta of 0.89. The firm has a 50 day moving average price of $73.80 and a 200 day moving average price of $70.30. Imperial Oil Limited has a twelve month low of $58.76 and a twelve month high of $82.85.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th were paid a $0.523 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $2.09 dividend on an annualized basis and a yield of 2.59%. This is an increase from Imperial Oil's previous quarterly dividend of $0.50. Imperial Oil's payout ratio is currently 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.