Mackenzie Financial Corp Grows Position in Imperial Oil Limited $IMO

Mackenzie Financial Corp increased its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 11.0% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 765,618 shares of the energy company’s stock after buying an additional 75,594 shares during the quarter. Mackenzie Financial Corp owned about 0.15% of Imperial Oil worth $60,860,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of IMO. Amundi lifted its holdings in Imperial Oil by 0.5% in the first quarter. Amundi now owns 617,706 shares of the energy company’s stock valued at $42,368,000 after acquiring an additional 3,275 shares during the period. Northern Trust Corp increased its position in shares of Imperial Oil by 2.0% during the 1st quarter. Northern Trust Corp now owns 199,021 shares of the energy company’s stock valued at $14,393,000 after purchasing an additional 3,889 shares during the last quarter. PDS Planning Inc bought a new position in shares of Imperial Oil in the 2nd quarter worth approximately $237,000. Maryland State Retirement & Pension System boosted its holdings in shares of Imperial Oil by 12.6% in the second quarter. Maryland State Retirement & Pension System now owns 67,867 shares of the energy company’s stock worth $5,400,000 after buying an additional 7,595 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in Imperial Oil by 32.0% during the second quarter. Bessemer Group Inc. now owns 31,278 shares of the energy company’s stock valued at $2,482,000 after buying an additional 7,588 shares during the period. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Trading Up 0.1%

Shares of Imperial Oil stock opened at $98.80 on Friday. Imperial Oil Limited has a fifty-two week low of $58.76 and a fifty-two week high of $101.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.58. The company has a market capitalization of $49.09 billion, a P/E ratio of 15.22 and a beta of 0.83. The company has a fifty day moving average of $92.24 and a 200 day moving average of $85.56.

Imperial Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, December 3rd. Imperial Oil’s dividend payout ratio (DPR) is 31.87%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IMO. Zacks Research downgraded shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a research report on Tuesday, November 4th. Cibc World Mkts lowered Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Imperial Oil in a research note on Wednesday, November 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Imperial Oil in a research report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, Imperial Oil presently has a consensus rating of “Reduce” and an average target price of $115.00.

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.