Maryland State Retirement & Pension System Acquires 7,595 Shares of Imperial Oil Limited $IMO

Key Points

• Maryland State Retirement & Pension System increased its holdings in Imperial Oil Limited by 12.6%, acquiring an additional 7,595 shares, bringing its total to 67,867 shares valued at $5.4 million.
• Several institutional investors including Goldman Sachs and TD Asset Management have significantly increased their stakes in Imperial Oil, with varying ratings on the stock from analysts.
• Imperial Oil declared a quarterly dividend of $0.72 per share, which is an increase from the previous $0.52, reflecting a dividend yield of 3.3% and a payout ratio of 31.87%.

Maryland State Retirement & Pension System raised its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 12.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,867 shares of the energy company's stock after acquiring an additional 7,595 shares during the period. Maryland State Retirement & Pension System's holdings in Imperial Oil were worth $5,400,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. TD Asset Management Inc grew its position in Imperial Oil by 1.0% in the first quarter. TD Asset Management Inc now owns 4,873,843 shares of the energy company's stock valued at $352,014,000 after acquiring an additional 47,898 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Imperial Oil by 395.8% during the first quarter. Goldman Sachs Group Inc. now owns 4,546,520 shares of the energy company's stock valued at $328,804,000 after purchasing an additional 3,629,568 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Imperial Oil by 54.7% during the first quarter. Mackenzie Financial Corp now owns 690,024 shares of the energy company's stock valued at $49,842,000 after purchasing an additional 243,894 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Imperial Oil by 273.2% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 658,949 shares of the energy company's stock valued at $47,607,000 after purchasing an additional 482,393 shares in the last quarter. Finally, Amundi boosted its stake in shares of Imperial Oil by 0.5% during the first quarter. Amundi now owns 617,706 shares of the energy company's stock valued at $42,368,000 after purchasing an additional 3,275 shares in the last quarter. Institutional investors own 20.74% of the company's stock.

Analyst Upgrades and Downgrades

IMO has been the topic of a number of recent research reports. Tudor Pickering lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Wolfe Research lowered Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada lifted their price target on Imperial Oil from $108.00 to $115.00 and gave the company a "sector perform" rating in a research note on Thursday, September 25th. Raymond James Financial lowered Imperial Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Finally, TD Securities lowered Imperial Oil from a "hold" rating to a "sell" rating in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $115.00.

Imperial Oil Price Performance

Imperial Oil stock opened at $88.09 on Friday. The stock has a market capitalization of $44.22 billion, a price-to-earnings ratio of 13.57 and a beta of 0.83. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $96.09. The stock's 50 day moving average price is $88.68 and its two-hundred day moving average price is $79.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.58.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Thursday, September 4th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Thursday, September 4th. This is a positive change from Imperial Oil's previous quarterly dividend of $0.52. Imperial Oil's dividend payout ratio (DPR) 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.

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