22,758 Shares in Imperial Oil Limited $IMO Bought by PDT Partners LLC

Key Points

• PDT Partners LLC has acquired a new stake in Imperial Oil Limited, purchasing 22,758 shares valued at approximately $1.65 million in the first quarter.
• Imperial Oil increased its quarterly dividend from $0.52 to $0.72 per share, reflecting a dividend yield of 3.2% and indicating strong financial performance.
• Wall Street analysts have mixed ratings on Imperial Oil, with one "Buy," five "Hold," and three "Sell" ratings, and an average target price of $105.50.

PDT Partners LLC bought a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 22,758 shares of the energy company's stock, valued at approximately $1,646,000.

A number of other large investors also recently bought and sold shares of the company. TD Asset Management Inc lifted its holdings in Imperial Oil by 1.0% during the 1st quarter. TD Asset Management Inc now owns 4,873,843 shares of the energy company's stock worth $352,014,000 after buying an additional 47,898 shares during the last quarter. Bank of America Corp DE boosted its position in Imperial Oil by 1.1% during the 4th quarter. Bank of America Corp DE now owns 2,398,899 shares of the energy company's stock valued at $147,772,000 after purchasing an additional 26,891 shares during the period. Mackenzie Financial Corp boosted its position in 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 purchasing an additional 243,894 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in 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 purchasing an additional 482,393 shares during the period. Finally, Bank of Nova Scotia boosted its position in Imperial Oil by 0.7% during the 1st quarter. Bank of Nova Scotia now owns 574,221 shares of the energy company's stock valued at $41,485,000 after purchasing an additional 3,773 shares during the period. Institutional investors own 20.74% of the company's stock.

Imperial Oil Price Performance

Shares of IMO stock traded down $0.19 during mid-day trading on Friday, hitting $87.28. 388,357 shares of the stock traded hands, compared to its average volume of 348,415. Imperial Oil Limited has a twelve month low of $58.76 and a twelve month high of $91.17. The firm has a market cap of $44.22 billion, a price-to-earnings ratio of 13.45 and a beta of 0.94. The company's 50-day simple moving average is $84.23 and its 200-day simple moving average is $75.11. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 4th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Thursday, September 4th. This is a positive change from Imperial Oil's previous quarterly dividend of $0.52. Imperial Oil's payout ratio is presently 31.56%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IMO shares. Raymond James Financial lowered Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Desjardins downgraded Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Wolfe Research downgraded Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 23rd. Zacks Research raised Imperial Oil from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Imperial Oil in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $105.50.

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.