Deutsche Bank AG Has $22.12 Million Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Deutsche Bank AG cut its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 46.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 359,084 shares of the energy company’s stock after selling 314,106 shares during the quarter. Deutsche Bank AG’s holdings in Imperial Oil were worth $22,120,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC boosted its position in Imperial Oil by 16.9% during the 4th 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. 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 worth $67,634,000 after purchasing 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 worth $58,212,000 after purchasing an additional 212,707 shares in the last quarter. Guardian Partners Inc. acquired a new position in Imperial Oil during the fourth quarter worth $10,890,000. Finally, Raymond James Financial Inc. bought a new position in Imperial Oil in the fourth quarter valued at $7,982,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Wall Street Analyst Weigh In

IMO has been the topic of several analyst reports. 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. Scotiabank raised Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th. Wolfe Research raised Imperial Oil from a “peer perform” rating to an “outperform” rating in a research report on Monday, April 21st. Raymond James restated an “outperform” rating on shares of Imperial Oil in a research note on Monday, May 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $101.00 price target on shares of Imperial Oil in a research report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $106.33.

Imperial Oil Stock Down 1.2%

Shares of IMO stock opened at $72.74 on Thursday. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $80.17. The stock has a market cap of $37.03 billion, a price-to-earnings ratio of 11.04 and a beta of 1.44. The firm’s 50-day moving average is $67.85 and its 200-day moving average is $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 disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 4th will be paid a $0.523 dividend. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, June 4th. This represents a $2.09 annualized dividend and a yield of 2.88%. Imperial Oil’s dividend payout ratio is currently 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.