Intech Investment Management LLC Has $2.66 Million Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

Intech Investment Management LLC lifted its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 110.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,179 shares of the energy company’s stock after buying an additional 22,664 shares during the quarter. Intech Investment Management LLC’s holdings in Imperial Oil were worth $2,660,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. FMR LLC grew its position in shares of Imperial Oil by 3.7% during the 3rd quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock worth $2,598,604,000 after buying an additional 1,331,235 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Imperial Oil by 8.4% during the third quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company’s stock valued at $311,175,000 after purchasing an additional 341,689 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Imperial Oil by 9.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,107,250 shares of the energy company’s stock valued at $148,235,000 after purchasing an additional 187,158 shares during the period. Geode Capital Management LLC grew its holdings in Imperial Oil by 9.1% during the third quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company’s stock valued at $59,502,000 after purchasing an additional 70,357 shares during the period. Finally, National Bank of Canada FI grew its holdings in Imperial Oil by 13.3% during the third quarter. National Bank of Canada FI now owns 751,038 shares of the energy company’s stock valued at $52,885,000 after purchasing an additional 87,914 shares during the period. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Stock Performance

Shares of IMO opened at $70.32 on Thursday. 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 twelve month low of $60.95 and a twelve month high of $80.17. The firm has a 50 day moving average of $68.06. The company has a market capitalization of $35.80 billion, a price-to-earnings ratio of 10.67 and a beta of 1.44.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th will be paid a $0.4972 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.99 dividend on an annualized basis and a yield of 2.83%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. Imperial Oil’s payout ratio is presently 25.80%.

Wall Street Analyst Weigh In

IMO has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. Wolfe Research cut shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.