Imperial Oil Limited (NYSEAMERICAN:IMO) Stock Position Lowered by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 446,130 shares of the energy company’s stock after selling 12,826 shares during the quarter. Mackenzie Financial Corp owned approximately 0.09% of Imperial Oil worth $27,465,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mediolanum International Funds Ltd increased its stake in shares of Imperial Oil by 42.8% during the 4th quarter. Mediolanum International Funds Ltd now owns 14,364 shares of the energy company’s stock worth $874,000 after purchasing an additional 4,308 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Imperial Oil by 29.0% during the 4th 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 during the last quarter. Stevens Capital Management LP acquired a new position in shares of Imperial Oil during the 4th quarter worth $258,000. Envestnet Asset Management Inc. increased its stake in shares of Imperial Oil by 8.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 63,193 shares of the energy company’s stock worth $3,893,000 after purchasing an additional 5,181 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Imperial Oil during the 4th quarter worth $7,982,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Performance

NYSEAMERICAN:IMO opened at $71.69 on Monday. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $80.17. The firm’s fifty day simple moving average is $68.42 and its 200 day simple moving average is $69.87. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $36.49 billion, a PE ratio of 10.88 and a beta of 1.44.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 4th will be given a $0.523 dividend. This represents a $2.09 annualized dividend and a yield of 2.92%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Wednesday, June 4th. Imperial Oil’s dividend payout ratio (DPR) is currently 25.80%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IMO shares. Raymond James restated an “outperform” rating on shares of Imperial Oil in a research note on Monday, May 5th. Royal Bank of Canada restated a “sector perform” rating and set a $101.00 price target on shares of Imperial Oil in a research note on Thursday, April 3rd. Scotiabank upgraded shares of Imperial Oil to a “hold” rating in a research note on Wednesday, March 19th. The Goldman Sachs Group lowered shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Thursday, March 27th. Finally, Wolfe Research upgraded shares of Imperial Oil from a “peer perform” rating to an “outperform” rating in a research note on Monday, April 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Imperial Oil has an average rating of “Hold” and a consensus target price 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.