Raymond James Financial Inc. Purchases New Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

Raymond James Financial Inc. bought a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 129,584 shares of the energy company's stock, valued at approximately $7,982,000.

Several other large investors also recently bought and sold shares of IMO. FMR LLC grew its holdings in Imperial Oil by 16.9% in the fourth quarter. FMR LLC now owns 43,162,088 shares of the energy company's stock valued at $2,659,965,000 after purchasing an additional 6,228,461 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Imperial Oil by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 1,086,840 shares of the energy company's stock valued at $67,634,000 after acquiring an additional 244,176 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Imperial Oil by 29.0% in the fourth quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company's stock valued at $58,212,000 after acquiring an additional 212,707 shares in the last quarter. Guardian Partners Inc. purchased a new stake in shares of Imperial Oil in the fourth quarter valued at $10,890,000. Finally, TD Asset Management Inc. lifted its position in shares of Imperial Oil by 2.2% in the fourth quarter. TD Asset Management Inc. now owns 4,825,945 shares of the energy company's stock valued at $297,268,000 after acquiring an additional 105,970 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on IMO shares. Raymond James upgraded Imperial Oil from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Wolfe Research upgraded Imperial Oil from a "peer perform" rating to an "outperform" rating in a research report on Monday, April 21st. Royal Bank of Canada reiterated a "sector perform" rating and set a $101.00 target price on shares of Imperial Oil in a research report on Thursday, April 3rd. Scotiabank upgraded Imperial Oil to a "hold" rating in a research report on Wednesday, March 19th. Finally, The Goldman Sachs Group downgraded Imperial Oil from a "neutral" rating to a "sell" rating in a research report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Imperial Oil has a consensus rating of "Hold" and an average target price of $106.33.

Imperial Oil Stock Up 0.8 %

Shares of NYSEAMERICAN IMO traded up $0.53 during trading on Monday, reaching $69.45. 285,953 shares of the stock were exchanged, compared to its average volume of 447,707. The company has a market capitalization of $35.35 billion, a price-to-earnings ratio of 10.54 and a beta of 1.44. The business's 50-day moving average price is $67.74 and its 200 day moving average price is $69.76. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a twelve month low of $58.76 and a twelve month high of $80.17.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were paid a $0.4972 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from Imperial Oil's previous quarterly dividend of $0.43. This represents a $1.99 annualized dividend and a dividend yield of 2.86%. Imperial Oil's dividend 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.