Mufg Securities Canada LTD. Sells 7,640 Shares of Imperial Oil Limited $IMO

Mufg Securities Canada LTD. lessened its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,881 shares of the energy company’s stock after selling 7,640 shares during the quarter. Mufg Securities Canada LTD.’s holdings in Imperial Oil were worth $23,561,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of IMO. MAI Capital Management raised its position in Imperial Oil by 2,275.0% in the 2nd quarter. MAI Capital Management now owns 380 shares of the energy company’s stock valued at $30,000 after buying an additional 364 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in Imperial Oil by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 426 shares of the energy company’s stock worth $38,000 after acquiring an additional 213 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Imperial Oil by 64.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock worth $40,000 after acquiring an additional 169 shares in the last quarter. Tacita Capital Inc grew its stake in shares of Imperial Oil by 66.8% in the 3rd quarter. Tacita Capital Inc now owns 934 shares of the energy company’s stock worth $85,000 after acquiring an additional 374 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Imperial Oil in the third quarter valued at about $123,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Performance

Shares of IMO opened at $117.30 on Friday. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $123.52. The stock’s 50-day simple moving average is $102.17 and its 200 day simple moving average is $94.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.94 and a current ratio of 1.27. The stock has a market capitalization of $56.73 billion, a price-to-earnings ratio of 25.61 and a beta of 0.70.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 5th will be issued a $0.87 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.0%. Imperial Oil’s payout ratio is currently 31.26%.

Analyst Upgrades and Downgrades

IMO has been the topic of several analyst reports. BMO Capital Markets cut shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. TD Securities reissued a “sell” rating on shares of Imperial Oil in a research report on Monday, February 23rd. Raymond James Financial downgraded Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Monday, December 8th. Finally, Royal Bank Of Canada downgraded Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price target for the company. in a research report on Monday, February 23rd. Five research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, Imperial Oil presently has an average rating of “Strong Sell” and an average price target of $116.00.

About Imperial Oil

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.