BNP Paribas Financial Markets Grows Stake in Imperial Oil Limited $IMO

BNP Paribas Financial Markets boosted its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 168.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,585 shares of the energy company’s stock after purchasing an additional 185,995 shares during the period. BNP Paribas Financial Markets’ holdings in Imperial Oil were worth $25,598,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IMO. UBS Group AG increased its stake in Imperial Oil by 566.9% in the 3rd quarter. UBS Group AG now owns 1,406,624 shares of the energy company’s stock valued at $127,637,000 after purchasing an additional 1,195,698 shares in the last quarter. Bank of America Corp DE increased its stake in Imperial Oil by 30.4% in the 3rd quarter. Bank of America Corp DE now owns 3,840,645 shares of the energy company’s stock valued at $348,500,000 after purchasing an additional 895,117 shares in the last quarter. Mackenzie Financial Corp increased its stake in Imperial Oil by 56.0% in the 3rd quarter. Mackenzie Financial Corp now owns 1,194,462 shares of the energy company’s stock valued at $108,282,000 after purchasing an additional 428,844 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Imperial Oil by 22.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,067,657 shares of the energy company’s stock valued at $96,879,000 after purchasing an additional 195,730 shares in the last quarter. Finally, Fiera Capital Corp increased its stake in Imperial Oil by 55.5% in the 3rd quarter. Fiera Capital Corp now owns 474,132 shares of the energy company’s stock valued at $42,976,000 after purchasing an additional 169,321 shares in the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Stock Performance

Imperial Oil stock opened at $126.90 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.23. The stock has a fifty day moving average of $128.77 and a two-hundred day moving average of $112.47. The company has a market capitalization of $61.37 billion, a price-to-earnings ratio of 29.93 and a beta of 0.43. Imperial Oil Limited has a fifty-two week low of $72.46 and a fifty-two week high of $139.44.

Imperial Oil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 4th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $3.48 annualized dividend and a yield of 2.7%. Imperial Oil’s dividend payout ratio (DPR) is presently 38.69%.

Wall Street Analysts Forecast Growth

IMO has been the subject of several research analyst reports. Zacks Research raised Imperial Oil from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 24th. 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. Finally, TD Securities reissued a “sell” rating on shares of Imperial Oil in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price 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.