By otakuyassine3@gmail.com 
JPMorgan Chase & Co. raised its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO – Free Report) (TSE:IMO) by 29.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 945,002 shares of the energy company’s stock after purchasing an additional 212,707 shares during the period. JPMorgan Chase & Co. owned 0.19% of Imperial Oil worth $58,212,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Imperial Oil by 9.1% during the third quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company’s stock worth $59,502,000 after buying an additional 70,357 shares during the last quarter. Mediolanum International Funds Ltd raised its position in shares of Imperial Oil by 42.8% in the 4th quarter. Mediolanum International Funds Ltd now owns 14,364 shares of the energy company’s stock worth $874,000 after acquiring an additional 4,308 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Imperial Oil by 13.3% in the 3rd quarter. National Bank of Canada FI now owns 751,038 shares of the energy company’s stock valued at $52,885,000 after purchasing an additional 87,914 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Imperial Oil during the 3rd quarter valued at about $28,000. Finally, Barclays PLC grew its stake in Imperial Oil by 27.8% during the third quarter. Barclays PLC now owns 2,838 shares of the energy company’s stock worth $200,000 after purchasing an additional 617 shares during the period. 20.74% of the stock is owned by institutional investors and hedge funds.
Imperial Oil Price Performance
Shares of NYSEAMERICAN:IMO opened at $63.47 on Friday. Imperial Oil Limited has a 1 year low of $60.95 and a 1 year high of $80.17. The company has a market cap of $32.31 billion, a P/E ratio of 9.63 and a beta of 1.44. The company has a fifty day simple moving average of $69.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.23.
Imperial Oil Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th were issued a dividend of $0.4972 per share. This represents a $1.99 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Wednesday, March 5th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.43. Imperial Oil’s dividend payout ratio (DPR) is 25.80%.
Analysts Set New Price Targets
IMO has been the topic of a number of research analyst reports. The Goldman Sachs Group cut Imperial Oil from a “neutral” rating to a “sell” rating in a report on Thursday, March 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 target price on shares of Imperial Oil in a research note on Thursday. JPMorgan Chase & Co. downgraded shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. Scotiabank raised shares of Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th. Finally, Wolfe Research lowered Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $106.33.
Get Our Latest Stock Report on Imperial Oil
About Imperial Oil
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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