Northern Trust Corp Has $14.39 Million Stock Position in Imperial Oil Limited $IMO

Key Points

• Northern Trust Corp increased its stake in Imperial Oil Limited by 2.0%, owning 199,021 shares valued at approximately $14.39 million as of the latest SEC filing.
• Imperial Oil recently announced a dividend increase, declaring a quarterly dividend of $0.72 per share, up from $0.52, which results in an annualized dividend of $2.88 and a yield of 3.3%.
• Wall Street ratings for Imperial Oil are mixed, with one analyst recommending a Buy, five rating the stock as a Hold, and three suggesting Sell, leading to an overall average rating of "Reduce."

Northern Trust Corp grew its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,021 shares of the energy company's stock after buying an additional 3,889 shares during the quarter. Northern Trust Corp's holdings in Imperial Oil were worth $14,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Group One Trading LLC lifted its position in Imperial Oil by 29.7% during the 4th quarter. Group One Trading LLC now owns 755 shares of the energy company's stock worth $47,000 after buying an additional 173 shares in the last quarter. Gold Investment Management Ltd. lifted its position in Imperial Oil by 0.6% during the 1st quarter. Gold Investment Management Ltd. now owns 28,082 shares of the energy company's stock worth $2,029,000 after buying an additional 178 shares in the last quarter. Stephens Inc. AR lifted its position in Imperial Oil by 2.0% during the 1st quarter. Stephens Inc. AR now owns 14,861 shares of the energy company's stock worth $1,075,000 after buying an additional 290 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Imperial Oil during the 1st quarter worth about $26,000. Finally, Mediolanum International Funds Ltd lifted its position in Imperial Oil by 3.3% during the 1st quarter. Mediolanum International Funds Ltd now owns 14,842 shares of the energy company's stock worth $1,055,000 after buying an additional 478 shares in the last quarter. 20.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on IMO. Raymond James Financial cut shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. 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. Desjardins lowered shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Finally, BMO Capital Markets restated an "outperform" rating on shares of Imperial Oil in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $105.50.

Imperial Oil Stock Performance

Shares of Imperial Oil stock traded down $0.19 during trading on Friday, hitting $87.28. 388,357 shares of the stock were exchanged, compared to its average volume of 348,415. Imperial Oil Limited has a 1-year low of $58.76 and a 1-year high of $91.17. The stock has a market capitalization of $44.22 billion, a price-to-earnings ratio of 13.45 and a beta of 0.94. The company has a fifty day moving average price of $84.23 and a 200-day moving average price of $75.11. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 4th will be paid a $0.72 dividend. This is an increase from Imperial Oil's previous quarterly dividend of $0.52. The ex-dividend date is Thursday, September 4th. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. Imperial Oil's dividend payout ratio (DPR) is currently 31.56%.

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.