Mufg Securities Canada LTD. Acquires 101,056 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Mufg Securities Canada LTD. boosted its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 68.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 247,769 shares of the energy company’s stock after buying an additional 101,056 shares during the quarter. Mufg Securities Canada LTD.’s holdings in Imperial Oil were worth $15,260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IMO. Signaturefd LLC grew its stake in shares of Imperial Oil by 2.0% during the 4th quarter. Signaturefd LLC now owns 7,648 shares of the energy company’s stock valued at $471,000 after acquiring an additional 150 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Imperial Oil by 4.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,916 shares of the energy company’s stock worth $241,000 after purchasing an additional 163 shares in the last quarter. Gold Investment Management Ltd. raised its position in shares of Imperial Oil by 0.7% during the 4th quarter. Gold Investment Management Ltd. now owns 27,904 shares of the energy company’s stock valued at $1,719,000 after purchasing an additional 186 shares during the period. OLD National Bancorp IN lifted its stake in shares of Imperial Oil by 5.0% during the 4th quarter. OLD National Bancorp IN now owns 3,920 shares of the energy company’s stock valued at $241,000 after buying an additional 187 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Imperial Oil by 21.0% in the 4th quarter. Allworth Financial LP now owns 1,630 shares of the energy company’s stock worth $100,000 after buying an additional 283 shares during the period. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Trading Up 0.8 %

Shares of Imperial Oil stock opened at $73.34 on Wednesday. The company has a market capitalization of $37.33 billion, a price-to-earnings ratio of 11.13 and a beta of 1.44. The company’s 50 day moving average price is $68.88. 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 Limited has a 12 month low of $60.95 and a 12 month high of $80.17.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.4972 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.43. This represents a $1.99 dividend on an annualized basis and a yield of 2.71%. Imperial Oil’s dividend payout ratio is 25.80%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IMO. JPMorgan Chase & Co. downgraded Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $109.00.

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.