Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,908,560 shares of the energy company’s stock after selling 80,046 shares during the quarter. Bank of Montreal Can owned approximately 0.57% of Imperial Oil worth $179,024,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its position in Imperial Oil by 16.9% during the fourth quarter. FMR LLC now owns 43,162,088 shares of the energy company’s stock worth $2,659,965,000 after acquiring an additional 6,228,461 shares during the last quarter. TD Asset Management Inc. lifted its stake in Imperial Oil by 2.2% in the 4th quarter. TD Asset Management Inc. now owns 4,825,945 shares of the energy company’s stock worth $297,268,000 after purchasing an additional 105,970 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Imperial Oil by 29.0% during the 4th quarter. Geode Capital Management LLC now owns 1,086,840 shares of the energy company’s stock worth $67,634,000 after purchasing an additional 244,176 shares during the last quarter. JPMorgan Chase & Co. grew 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 purchasing an additional 212,707 shares in the last quarter. Finally, Mufg Securities Canada LTD. increased its holdings in shares of Imperial Oil by 68.9% in the fourth quarter. Mufg Securities Canada LTD. now owns 247,769 shares of the energy company’s stock valued at $15,260,000 after purchasing an additional 101,056 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

IMO opened at $61.90 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.23. The firm has a market cap of $31.51 billion, a PE ratio of 9.39 and a beta of 1.44. The business’s fifty day moving average is $69.44. Imperial Oil Limited has a 12 month low of $59.80 and a 12 month high of $80.17.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th were issued a $0.4972 dividend. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.99 annualized dividend and a yield of 3.21%. Imperial Oil’s dividend payout ratio (DPR) is 25.80%.

Analyst Ratings Changes

A number of equities analysts have weighed in on IMO shares. Scotiabank raised Imperial Oil to a “hold” rating in a research note on Wednesday, March 19th. The Goldman Sachs Group cut shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. cut shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 target price on shares of Imperial Oil in a report on Thursday, April 3rd. Finally, Wolfe Research cut shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $106.33.

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.