Jefferies Financial Group Inc. boosted its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 59.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 200,053 shares of the energy company's stock after purchasing an additional 74,533 shares during the period. Jefferies Financial Group Inc.'s holdings in Imperial Oil were worth $12,322,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. Winch Advisory Services LLC purchased a new position in Imperial Oil during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Imperial Oil during the fourth quarter valued at approximately $41,000. Group One Trading LLC raised its holdings in shares of Imperial Oil by 29.7% during the fourth quarter. Group One Trading LLC now owns 755 shares of the energy company's stock valued at $47,000 after acquiring an additional 173 shares in the last quarter. Allworth Financial LP lifted its stake in Imperial Oil by 21.0% in the fourth quarter. Allworth Financial LP now owns 1,630 shares of the energy company's stock worth $100,000 after acquiring an additional 283 shares during the period. Finally, Natixis bought a new stake in Imperial Oil in the fourth quarter valued at $190,000. 20.74% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
IMO has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $101.00 price target on shares of Imperial Oil in a report on Thursday, April 3rd. Wolfe Research upgraded shares of Imperial Oil from a "peer perform" rating to an "outperform" rating in a research note on Monday, April 21st. The Goldman Sachs Group downgraded shares of Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday, March 27th. Raymond James reissued an "outperform" rating on shares of Imperial Oil in a research note on Monday, May 5th. Finally, Scotiabank upgraded shares of Imperial Oil to a "hold" rating in a research note on Wednesday, March 19th. 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. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $106.33.
View Our Latest Research Report on Imperial Oil
Imperial Oil Trading Down 0.6%
IMO stock traded down $0.41 during midday trading on Thursday, reaching $72.33. 315,391 shares of the company traded hands, compared to its average volume of 450,409. The firm has a market capitalization of $36.82 billion, a price-to-earnings ratio of 10.98 and a beta of 1.44. 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 of $67.85 and a 200-day moving average of $69.77. 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 Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 4th will be issued a $0.523 dividend. This represents a $2.09 annualized dividend and a dividend yield of 2.89%. This is an increase from Imperial Oil's previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, June 4th. Imperial Oil's dividend payout ratio is presently 25.80%.
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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