The Manufacturers Life Insurance Company Has $239.84 Million Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

The Manufacturers Life Insurance Company decreased its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 12.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,886,384 shares of the energy company’s stock after selling 533,618 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.76% of Imperial Oil worth $239,836,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in IMO. FMR LLC lifted its stake in shares of Imperial Oil by 16.9% in the fourth 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Imperial Oil by 29.0% during the fourth quarter. Geode Capital Management LLC now owns 1,086,840 shares of the energy company’s stock valued at $67,634,000 after purchasing an additional 244,176 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Imperial Oil by 29.0% during the fourth quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company’s stock valued at $58,212,000 after purchasing an additional 212,707 shares in the last quarter. Guardian Partners Inc. bought a new position in shares of Imperial Oil during the fourth quarter valued at about $10,890,000. Finally, Raymond James Financial Inc. bought a new position in shares of Imperial Oil during the fourth quarter valued at about $7,982,000. 20.74% of the stock is owned by institutional investors.

Imperial Oil Stock Up 1.1 %

Shares of NYSEAMERICAN:IMO opened at $68.92 on Monday. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $35.08 billion, a P/E ratio of 10.46 and a beta of 1.44. Imperial Oil Limited has a 12-month low of $58.76 and a 12-month high of $80.17. The stock’s 50-day moving average price is $67.76 and its 200-day moving average price is $69.76.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th were paid a $0.4972 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. This represents a $1.99 annualized dividend and a dividend yield of 2.89%. Imperial Oil’s dividend payout ratio (DPR) is presently 25.80%.

Wall Street Analyst Weigh In

Several analysts have commented on IMO shares. Raymond James raised shares of Imperial Oil from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 9th. The Goldman Sachs Group lowered shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. Wolfe Research raised shares of Imperial Oil from a “peer perform” rating to an “outperform” rating in a research report on Monday, April 21st. Scotiabank upgraded shares of Imperial Oil to a “hold” rating in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 target price on shares of Imperial Oil in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.