Maryland State Retirement & Pension System Boosts Stock Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Maryland State Retirement & Pension System lifted its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,426 shares of the energy company’s stock after buying an additional 3,271 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Imperial Oil were worth $3,599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IMO. FMR LLC increased its position in shares of Imperial Oil by 3.7% during the third quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock valued at $2,598,604,000 after buying an additional 1,331,235 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Imperial Oil by 8.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company’s stock worth $311,175,000 after purchasing an additional 341,689 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Imperial Oil by 9.7% in the 3rd 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 position in shares of Imperial Oil by 9.1% during the 3rd 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 in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Imperial Oil by 13.3% in the third 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 period. 20.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IMO has been the subject of several research reports. Wolfe Research lowered shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, Imperial Oil currently has an average rating of “Hold” and a consensus price target of $109.00.

Imperial Oil Trading Up 1.8 %

Shares of IMO opened at $70.32 on Thursday. Imperial Oil Limited has a 1-year low of $60.95 and a 1-year high of $80.17. The company has a market cap of $35.80 billion, a price-to-earnings ratio of 10.67 and a beta of 1.44. The company’s 50-day moving average is $68.06. 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 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 represents a $1.99 annualized dividend and a yield of 2.83%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. Imperial Oil’s dividend payout ratio (DPR) is currently 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.