Goldman Sachs Group Inc. Increases Stock Position in Imperial Oil Limited $IMO

Key Points

• Goldman Sachs Group Inc. increased its stake in Imperial Oil Limited by 395.8%, owning approximately 4.5 million shares valued at about $328.8 million.
• Imperial Oil has announced a quarterly dividend increase to $0.72 per share, representing an annualized dividend of $2.88 and a yield of 3.2%.
• Research analysts have a mixed outlook, with most rating Imperial Oil as a Hold, while its consensus target price is $105.50.

Goldman Sachs Group Inc. raised its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 395.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,546,520 shares of the energy company's stock after buying an additional 3,629,568 shares during the quarter. Goldman Sachs Group Inc. owned about 0.89% of Imperial Oil worth $328,804,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IMO. Wayfinding Financial LLC acquired a new stake in shares of Imperial Oil during the first quarter worth about $26,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Imperial Oil by 88.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company's stock worth $39,000 after purchasing an additional 255 shares in the last quarter. Group One Trading LLC lifted its position in shares of Imperial Oil by 29.7% during the fourth quarter. Group One Trading LLC now owns 755 shares of the energy company's stock worth $47,000 after purchasing an additional 173 shares in the last quarter. Continuum Advisory LLC acquired a new stake in shares of Imperial Oil during the first quarter worth about $71,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Imperial Oil during the first quarter worth about $87,000. Institutional investors and hedge funds own 20.74% of the company's stock.

Imperial Oil Stock Up 1.5%

Imperial Oil stock traded up $1.33 during mid-day trading on Monday, hitting $92.25. The company had a trading volume of 115,120 shares, compared to its average volume of 444,940. The stock has a market cap of $46.30 billion, a price-to-earnings ratio of 14.20 and a beta of 0.94. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $92.33. The company has a quick ratio of 1.34, a current ratio of 1.58 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $85.18 and a 200 day moving average of $75.96.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Thursday, September 4th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Imperial Oil's previous quarterly dividend of $0.52. The ex-dividend date is Thursday, September 4th. Imperial Oil's payout ratio is 31.56%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wolfe Research cut shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, July 23rd. BMO Capital Markets restated an "outperform" rating on shares of Imperial Oil in a research note on Monday, August 4th. Tudor Pickering lowered shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Zacks Research upgraded shares of Imperial Oil from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Finally, Raymond James Financial lowered shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $105.50.

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.