Northern Trust Corp Increases Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

Northern Trust Corp raised its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 64.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 195,132 shares of the energy company’s stock after purchasing an additional 76,551 shares during the period. Northern Trust Corp’s holdings in Imperial Oil were worth $12,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Imperial Oil by 27.8% during the 3rd quarter. Barclays PLC now owns 2,838 shares of the energy company’s stock worth $200,000 after acquiring an additional 617 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Imperial Oil by 22.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,461 shares of the energy company’s stock valued at $583,000 after buying an additional 1,753 shares during the period. Ballentine Partners LLC raised its holdings in Imperial Oil by 8.0% in the 4th quarter. Ballentine Partners LLC now owns 3,900 shares of the energy company’s stock valued at $240,000 after buying an additional 288 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Imperial Oil in the 4th quarter valued at about $351,000. Finally, Blue Trust Inc. raised its holdings in Imperial Oil by 19.9% in the 4th quarter. Blue Trust Inc. now owns 11,699 shares of the energy company’s stock valued at $721,000 after buying an additional 1,943 shares during the period. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IMO shares. Scotiabank upgraded shares of Imperial Oil to a “hold” rating in a report on Wednesday, March 19th. Wolfe Research upgraded shares of Imperial Oil from a “peer perform” rating to an “outperform” rating in a report on Monday, April 21st. The Goldman Sachs Group lowered shares of Imperial Oil from a “neutral” rating to a “sell” rating in a report on Thursday, March 27th. Raymond James reiterated an “outperform” rating on shares of Imperial Oil in a research note on Monday, May 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $101.00 price target on shares of Imperial Oil in a research note on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Imperial Oil presently has a consensus rating of “Hold” and an average price target of $106.33.

Imperial Oil Stock Performance

Shares of IMO opened at $72.50 on Friday. The stock has a 50 day moving average price of $68.04 and a 200 day moving average price of $69.81. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $36.91 billion, a price-to-earnings ratio of 11.00 and a beta of 1.44. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $80.17.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th will be issued a $0.523 dividend. This represents a $2.09 dividend on an annualized basis and a yield of 2.89%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, June 4th. Imperial Oil’s dividend payout ratio is 25.80%.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.