Mackenzie Financial Corp Trims Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

Mackenzie Financial Corp cut its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 446,130 shares of the energy company's stock after selling 12,826 shares during the period. Mackenzie Financial Corp owned approximately 0.09% of Imperial Oil worth $27,465,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ballentine Partners LLC lifted its position in Imperial Oil by 8.0% in the fourth quarter. Ballentine Partners LLC now owns 3,900 shares of the energy company's stock valued at $240,000 after purchasing an additional 288 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Imperial Oil in the fourth quarter worth $351,000. Blue Trust Inc. increased its stake in shares of Imperial Oil by 19.9% in the fourth quarter. Blue Trust Inc. now owns 11,699 shares of the energy company's stock worth $721,000 after buying an additional 1,943 shares during the period. OLD National Bancorp IN raised its holdings in Imperial Oil by 5.0% during the 4th quarter. OLD National Bancorp IN now owns 3,920 shares of the energy company's stock valued at $241,000 after buying an additional 187 shares during the last quarter. Finally, Mediolanum International Funds Ltd boosted its position in Imperial Oil by 42.8% during the 4th quarter. Mediolanum International Funds Ltd now owns 14,364 shares of the energy company's stock valued at $874,000 after buying an additional 4,308 shares during the period. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IMO. The Goldman Sachs Group downgraded Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday, March 27th. Scotiabank upgraded Imperial Oil to a "hold" rating in a research report on Wednesday, March 19th. Wolfe Research raised Imperial Oil from a "peer perform" rating to an "outperform" rating in a research note on Monday, April 21st. Royal Bank of Canada restated a "sector perform" rating and set a $101.00 target price on shares of Imperial Oil in a report on Thursday, April 3rd. Finally, Raymond James reaffirmed an "outperform" rating on shares of Imperial Oil in a research note on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Imperial Oil currently has a consensus rating of "Hold" and an average price target of $106.33.

Imperial Oil Stock Down 1.2%

Shares of IMO stock traded down $0.86 during mid-day trading on Friday, hitting $70.96. The company's stock had a trading volume of 108,726 shares, compared to its average volume of 449,788. The stock has a market cap of $36.12 billion, a price-to-earnings ratio of 10.76 and a beta of 1.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $80.17. The business has a 50-day moving average price of $68.46 and a 200 day moving average price of $69.93.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 4th will be given a $0.523 dividend. This represents a $2.09 dividend on an annualized basis and a yield of 2.95%. 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 payout ratio is 25.80%.

Imperial Oil 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.