Legal & General Group Plc Increases Stock Holdings in Imperial Oil Limited $IMO

Legal & General Group Plc boosted its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 990,077 shares of the energy company’s stock after purchasing an additional 57,652 shares during the period. Legal & General Group Plc’s holdings in Imperial Oil were worth $85,649,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of IMO. Westside Investment Management Inc. lifted its position in shares of Imperial Oil by 100.0% during 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 in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Imperial Oil by 64.8% during 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Imperial Oil by 737.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company’s stock valued at $46,000 after buying an additional 450 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Imperial Oil during the 3rd quarter valued at about $54,000. Finally, Assetmark Inc. lifted its position in shares of Imperial Oil by 209.5% during the 4th quarter. Assetmark Inc. now owns 653 shares of the energy company’s stock valued at $56,000 after buying an additional 442 shares in the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IMO has been the topic of a number of research analyst reports. Zacks Research raised Imperial Oil from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. Royal Bank Of Canada cut 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. Finally, TD Securities reissued a “sell” rating on shares of Imperial Oil in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Imperial Oil presently has an average rating of “Reduce” and a consensus target price of $116.00.

Imperial Oil Stock Down 3.2%

Shares of IMO opened at $118.72 on Friday. The stock has a market capitalization of $57.41 billion, a price-to-earnings ratio of 28.00 and a beta of 0.48. Imperial Oil Limited has a 1 year low of $70.87 and a 1 year high of $139.44. The business’s 50 day simple moving average is $128.99 and its 200-day simple moving average is $111.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 1.02.

Imperial Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, June 4th. Imperial Oil’s dividend payout ratio is 38.69%.

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.