Intech Investment Management LLC boosted its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 16.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 50,069 shares of the energy company's stock after acquiring an additional 6,890 shares during the quarter. Intech Investment Management LLC's holdings in Imperial Oil were worth $3,616,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of Imperial Oil by 395.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,546,520 shares of the energy company's stock valued at $328,804,000 after buying an additional 3,629,568 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Imperial Oil by 273.2% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 658,949 shares of the energy company's stock valued at $47,607,000 after buying an additional 482,393 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Imperial Oil by 1,233.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 498,056 shares of the energy company's stock valued at $35,983,000 after buying an additional 460,696 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Imperial Oil during the 4th quarter valued at about $19,507,000. Finally, Mackenzie Financial Corp raised its stake in shares of Imperial Oil by 54.7% during the 1st quarter. Mackenzie Financial Corp now owns 690,024 shares of the energy company's stock valued at $49,842,000 after buying an additional 243,894 shares during the last quarter. Institutional investors and hedge funds own 20.74% of the company's stock.
Wall Street Analyst Weigh In
IMO has been the subject of a number of recent research reports. BMO Capital Markets reiterated an "outperform" rating on shares of Imperial Oil in a research note on Monday, August 4th. Raymond James Financial lowered Imperial Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Desjardins lowered Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Zacks Research upgraded Imperial Oil from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Finally, Tudor Pickering lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $105.50.
Get Our Latest Analysis on Imperial Oil
Imperial Oil Trading Down 0.6%
NYSEAMERICAN:IMO traded down $0.54 during trading hours on Thursday, reaching $93.96. 256,898 shares of the stock were exchanged, compared to its average volume of 385,021. 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 50-day moving average of $86.27 and a two-hundred day moving average of $76.58. Imperial Oil Limited has a twelve month low of $58.76 and a twelve month high of $96.09. The company has a market capitalization of $47.16 billion, a price-to-earnings ratio of 14.48 and a beta of 0.94.
Imperial Oil Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. This is a positive change from Imperial Oil's previous quarterly dividend of $0.52. The ex-dividend date is Thursday, September 4th. Imperial Oil's payout ratio is currently 31.56%.
About Imperial Oil
(
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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