Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Purchased by Korea Investment CORP

Korea Investment CORP lifted its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 73.6% in the fourth quarter, HoldingsChannel reports. The fund owned 110,891 shares of the energy company’s stock after purchasing an additional 47,000 shares during the quarter. Korea Investment CORP’s holdings in Imperial Oil were worth $6,831,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake 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 buying an additional 70,357 shares in the last quarter. Mediolanum International Funds Ltd grew its stake in shares of Imperial Oil by 42.8% in 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. National Bank of Canada FI grew its stake in shares of Imperial Oil by 13.3% in the 3rd quarter. National Bank of Canada FI now owns 751,038 shares of the energy company’s stock worth $52,885,000 after purchasing an additional 87,914 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Imperial Oil in the 3rd quarter worth approximately $28,000. Finally, Barclays PLC boosted its holdings in Imperial Oil by 27.8% during the third quarter. Barclays PLC now owns 2,838 shares of the energy company’s stock worth $200,000 after buying an additional 617 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IMO shares. JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. The Goldman Sachs Group lowered Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. Scotiabank upgraded Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th. Finally, Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $109.00.

Imperial Oil Stock Up 2.1 %

Shares of NYSEAMERICAN:IMO opened at $72.32 on Tuesday. The firm has a market cap of $36.81 billion, a P/E ratio of 10.97 and a beta of 1.44. The firm’s fifty day moving average price is $69.41. 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 firm 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 is Wednesday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. This represents a $1.99 dividend on an annualized basis and a yield of 2.75%. Imperial Oil’s dividend payout ratio (DPR) is presently 25.80%.

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.