Intech Investment Management LLC Increases Stake in Imperial Oil Limited $IMO

Intech Investment Management LLC raised its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 5.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 82,983 shares of the energy company’s stock after acquiring an additional 4,392 shares during the period. Intech Investment Management LLC’s holdings in Imperial Oil were worth $7,179,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. UBS Group AG grew its holdings in shares of Imperial Oil by 566.9% in the third quarter. UBS Group AG now owns 1,406,624 shares of the energy company’s stock valued at $127,637,000 after purchasing an additional 1,195,698 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Imperial Oil by 30.4% in the third quarter. Bank of America Corp DE now owns 3,840,645 shares of the energy company’s stock valued at $348,500,000 after purchasing an additional 895,117 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Imperial Oil by 56.0% in the third quarter. Mackenzie Financial Corp now owns 1,194,462 shares of the energy company’s stock valued at $108,282,000 after purchasing an additional 428,844 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Imperial Oil by 22.4% in the third quarter. JPMorgan Chase & Co. now owns 1,067,657 shares of the energy company’s stock valued at $96,879,000 after purchasing an additional 195,730 shares in the last quarter. Finally, Fiera Capital Corp grew its holdings in shares of Imperial Oil by 55.5% in the third quarter. Fiera Capital Corp now owns 474,132 shares of the energy company’s stock valued at $42,976,000 after purchasing an additional 169,321 shares in the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IMO has been the subject of a number of recent research reports. Zacks Research raised shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. TD Securities reissued a “sell” rating on shares of Imperial Oil in a report on Wednesday, May 13th. Finally, Royal Bank Of Canada lowered shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 target price for the company. in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $116.00.

Imperial Oil Stock Down 3.2%

NYSEAMERICAN IMO opened at $118.72 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average of $128.99 and a two-hundred day moving average of $111.58. The firm has a market capitalization of $57.41 billion, a price-to-earnings ratio of 28.00 and a beta of 0.48. Imperial Oil Limited has a 52 week low of $70.87 and a 52 week high of $139.44.

Imperial Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 4th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, June 4th. Imperial Oil’s payout ratio is presently 38.69%.

Imperial Oil Profile

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.