Freedom Investment Management Inc. Has $311,000 Stock Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Freedom Investment Management Inc. lifted its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 18.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,049 shares of the energy company’s stock after buying an additional 796 shares during the quarter. Freedom Investment Management Inc.’s holdings in Imperial Oil were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of IMO. FMR LLC grew its holdings in Imperial Oil by 16.9% in the 4th quarter. FMR LLC now owns 43,162,088 shares of the energy company’s stock valued at $2,659,965,000 after buying an additional 6,228,461 shares during the last quarter. Geode Capital Management LLC grew its stake 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 acquiring an additional 244,176 shares during the last quarter. JPMorgan Chase & Co. increased its position in Imperial Oil by 29.0% during the fourth quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company’s stock worth $58,212,000 after acquiring an additional 212,707 shares during the period. Guardian Partners Inc. acquired a new position in Imperial Oil during the 4th quarter valued at $10,890,000. Finally, Raymond James Financial Inc. bought a new stake in Imperial Oil in the 4th quarter valued at $7,982,000. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Price Performance

Shares of IMO stock opened at $64.85 on Tuesday. The stock’s fifty day simple moving average is $67.80 and its 200 day simple moving average is $69.79. Imperial Oil Limited has a one year low of $58.76 and a one year high of $80.17. The firm has a market cap of $33.01 billion, a price-to-earnings ratio of 9.84 and a beta of 1.44. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were issued a $0.4972 dividend. This is a positive change 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 dividend yield of 3.07%. Imperial Oil’s dividend payout ratio is presently 25.80%.

Analysts Set New Price Targets

A number of brokerages have recently commented on IMO. Scotiabank raised shares of Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $101.00 price target on shares of Imperial Oil in a report on Thursday, April 3rd. Raymond James upgraded Imperial Oil from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 9th. The Goldman Sachs Group lowered 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. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $106.33.

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.