Imperial Oil Limited $IMO Position Increased by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 56.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,194,462 shares of the energy company’s stock after buying an additional 428,844 shares during the quarter. Mackenzie Financial Corp’s holdings in Imperial Oil were worth $108,282,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IMO. Legal & General Group Plc boosted its stake in shares of Imperial Oil by 14.7% during the 3rd quarter. Legal & General Group Plc now owns 932,425 shares of the energy company’s stock worth $84,565,000 after acquiring an additional 119,718 shares in the last quarter. Korea Investment CORP raised its position in shares of Imperial Oil by 2.9% during the third quarter. Korea Investment CORP now owns 172,932 shares of the energy company’s stock worth $15,684,000 after purchasing an additional 4,919 shares during the period. IFG Advisory LLC lifted its holdings in shares of Imperial Oil by 7.3% during the third quarter. IFG Advisory LLC now owns 34,728 shares of the energy company’s stock valued at $3,151,000 after purchasing an additional 2,369 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Imperial Oil by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 792,678 shares of the energy company’s stock valued at $71,938,000 after purchasing an additional 5,236 shares during the period. Finally, Aviso Financial Inc. boosted its position in shares of Imperial Oil by 3.9% in the 3rd quarter. Aviso Financial Inc. now owns 12,188 shares of the energy company’s stock valued at $1,105,000 after purchasing an additional 460 shares during the period. Institutional investors own 20.74% of the company’s stock.

Analyst Ratings Changes

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

Imperial Oil Stock Performance

Shares of IMO stock opened at $120.25 on Thursday. Imperial Oil Limited has a 1-year low of $58.76 and a 1-year high of $123.52. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $58.15 billion, a price-to-earnings ratio of 26.26 and a beta of 0.66. The stock’s fifty day simple moving average is $107.47 and its 200-day simple moving average is $96.81.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Thursday, March 5th. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. Imperial Oil’s dividend payout ratio is 38.69%.

Imperial Oil 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.