Korea Investment CORP Raises Stock Position in Imperial Oil Limited $IMO

Korea Investment CORP grew its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.9% in the third quarter, Holdings Channel.com reports. The fund owned 172,932 shares of the energy company’s stock after purchasing an additional 4,919 shares during the period. Korea Investment CORP’s holdings in Imperial Oil were worth $15,684,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC increased its stake in Imperial Oil by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 34,218 shares of the energy company’s stock valued at $2,475,000 after purchasing an additional 1,627 shares in the last quarter. NewEdge Advisors LLC boosted its position in Imperial Oil by 54.7% during the first quarter. NewEdge Advisors LLC now owns 11,887 shares of the energy company’s stock worth $860,000 after purchasing an additional 4,201 shares in the last quarter. Focus Partners Wealth acquired a new stake in Imperial Oil in the first quarter valued at $200,000. Envestnet Asset Management Inc. grew its holdings in Imperial Oil by 8.3% in the second quarter. Envestnet Asset Management Inc. now owns 73,988 shares of the energy company’s stock valued at $5,881,000 after purchasing an additional 5,689 shares during the last quarter. Finally, Atria Investments Inc increased its position in shares of Imperial Oil by 34.8% in the second quarter. Atria Investments Inc now owns 5,986 shares of the energy company’s stock valued at $476,000 after buying an additional 1,545 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on IMO shares. 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 note on Monday, February 23rd. TD Securities reissued a “sell” rating on shares of Imperial Oil in a research note on Monday, February 23rd. Raymond James Financial downgraded shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. Finally, BMO Capital Markets downgraded shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. Five equities research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, Imperial Oil currently has an average rating of “Strong Sell” and a consensus price target of $116.00.

Imperial Oil Stock Performance

Imperial Oil stock opened at $117.90 on Wednesday. Imperial Oil Limited has a fifty-two week low of $58.76 and a fifty-two week high of $123.52. The company has a market capitalization of $57.02 billion, a price-to-earnings ratio of 25.74 and a beta of 0.66. The stock 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 given a dividend of $0.87 per share. The ex-dividend date is Thursday, March 5th. This represents a $3.48 dividend on an annualized basis and a yield of 3.0%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. Imperial Oil’s dividend payout ratio (DPR) is 38.69%.

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.