Principal Financial Group Inc. Purchases 1,200 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Principal Financial Group Inc. lifted its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,796 shares of the energy company’s stock after acquiring an additional 1,200 shares during the period. Principal Financial Group Inc.’s holdings in Imperial Oil were worth $1,213,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. FMR LLC grew its position in Imperial Oil by 16.9% in the 4th quarter. FMR LLC now owns 43,162,088 shares of the energy company’s stock worth $2,659,965,000 after purchasing an additional 6,228,461 shares during the period. TD Asset Management Inc. boosted its stake in shares of Imperial Oil by 2.2% during the 4th quarter. TD Asset Management Inc. now owns 4,825,945 shares of the energy company’s stock worth $297,268,000 after acquiring an additional 105,970 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Imperial Oil by 1.1% during the 4th quarter. Bank of America Corp DE now owns 2,398,899 shares of the energy company’s stock worth $147,772,000 after acquiring an additional 26,891 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Imperial Oil by 29.0% during the 4th quarter. Geode Capital Management LLC now owns 1,086,840 shares of the energy company’s stock worth $67,634,000 after acquiring an additional 244,176 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Imperial Oil by 29.0% during the 4th quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company’s stock worth $58,212,000 after acquiring an additional 212,707 shares during the last quarter. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

Imperial Oil stock opened at $82.31 on Friday. The stock has a market cap of $41.90 billion, a price-to-earnings ratio of 12.30 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.22. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $83.65. The firm has a 50-day moving average of $77.14 and a two-hundred day moving average of $70.87.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 4th were given a $0.523 dividend. This represents a $2.09 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Wednesday, June 4th. This is a boost from Imperial Oil’s previous quarterly dividend of $0.50. Imperial Oil’s dividend payout ratio is presently 31.87%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IMO. Desjardins cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 3rd. Royal Bank Of Canada restated a “sector perform” rating and set a $101.00 target price on shares of Imperial Oil in a research note on Thursday, April 3rd. Wolfe Research upgraded shares of Imperial Oil from a “peer perform” rating to an “outperform” rating in a research note on Monday, April 21st. Raymond James Financial cut shares of Imperial Oil from a “moderate buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Finally, The Goldman Sachs Group cut shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $105.50.

Imperial Oil Company Profile

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.