Swiss National Bank cut its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO – Free Report) (TSE:IMO) by 11.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 684,988 shares of the energy company’s stock after selling 84,500 shares during the period. Swiss National Bank owned 0.12% of Imperial Oil worth $42,548,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of the company. BNP Paribas Arbitrage SNC purchased a new position in Imperial Oil in the 3rd quarter valued at $35,000. Allworth Financial LP boosted its position in shares of Imperial Oil by 176.6% during the 3rd quarter. Allworth Financial LP now owns 888 shares of the energy company’s stock valued at $55,000 after acquiring an additional 567 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Imperial Oil by 229.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,724 shares of the energy company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the period. EverSource Wealth Advisors LLC increased its position in Imperial Oil by 8.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,713 shares of the energy company’s stock worth $139,000 after purchasing an additional 210 shares during the last quarter. Finally, State of Wyoming raised its stake in Imperial Oil by 21.7% during the second quarter. State of Wyoming now owns 2,900 shares of the energy company’s stock worth $148,000 after purchasing an additional 517 shares during the period. Institutional investors and hedge funds own 20.74% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently commented on IMO. JPMorgan Chase & Co. upgraded Imperial Oil from an “underweight” rating to a “neutral” rating in a report on Friday, December 8th. The Goldman Sachs Group cut Imperial Oil from a “buy” rating to a “neutral” rating in a report on Wednesday, November 8th. StockNews.com lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Finally, Royal Bank of Canada increased their target price on shares of Imperial Oil from $80.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 7th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Imperial Oil currently has an average rating of “Hold” and an average target price of $85.33.
Imperial Oil Stock Down 0.6 %
Shares of NYSEAMERICAN IMO opened at $57.17 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.38 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $30.63 billion, a PE ratio of 9.06 and a beta of 1.47. Imperial Oil Limited has a twelve month low of $44.22 and a twelve month high of $63.07.
Imperial Oil Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be paid a $0.4473 dividend. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, March 1st. This represents a $1.79 annualized dividend and a dividend yield of 3.13%. Imperial Oil’s dividend payout ratio (DPR) is presently 23.45%.
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 for, and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment is involved in the transportation and refining of crude oil, blending of refined products, and the distribution and marketing of refined products.
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