Imperial Oil Limited $IMO Shares Bought by Korea Investment CORP

Korea Investment CORP raised its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 172,932 shares of the energy company’s stock after purchasing an additional 4,919 shares during the quarter. Korea Investment CORP’s holdings in Imperial Oil were worth $15,684,000 at the end of the most recent reporting period.

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

Imperial Oil Price Performance

Imperial Oil stock opened at $117.90 on Wednesday. The company has a market cap of $57.02 billion, a P/E ratio of 25.74 and a beta of 0.66. Imperial Oil Limited has a one year low of $58.76 and a one year high of $123.52. The business has a fifty day moving average of $106.79 and a two-hundred day moving average of $96.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.94 and a current ratio of 1.27.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 5th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 3.0%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date is Thursday, March 5th. Imperial Oil’s dividend payout ratio (DPR) is 38.69%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Raymond James Financial downgraded shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. TD Securities restated a “sell” rating on shares of Imperial Oil in a research report on Monday, February 23rd. BMO Capital Markets lowered Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. Finally, Royal Bank Of Canada cut Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 target price on the stock. in a research report on Monday, February 23rd. Five analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus price target of $116.00.

Imperial Oil Company Profile

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.