Barometer Capital Management Inc. Has $11.42 Million Stock Position in Imperial Oil Limited $IMO

Barometer Capital Management Inc. lifted its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 15.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,892 shares of the energy company’s stock after buying an additional 17,052 shares during the quarter. Imperial Oil comprises approximately 2.9% of Barometer Capital Management Inc.’s holdings, making the stock its 11th biggest position. Barometer Capital Management Inc.’s holdings in Imperial Oil were worth $11,423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in IMO. BNP Paribas Financial Markets grew its holdings in Imperial Oil by 58.2% during the third quarter. BNP Paribas Financial Markets now owns 110,590 shares of the energy company’s stock worth $10,035,000 after purchasing an additional 40,685 shares during the period. Mackenzie Financial Corp raised its stake in Imperial Oil by 56.0% in the third quarter. Mackenzie Financial Corp now owns 1,194,462 shares of the energy company’s stock valued at $108,282,000 after buying an additional 428,844 shares during the period. Legal & General Group Plc lifted its position in shares of Imperial Oil by 14.7% in the third quarter. Legal & General Group Plc now owns 932,425 shares of the energy company’s stock valued at $84,565,000 after buying an additional 119,718 shares during the last quarter. Korea Investment CORP lifted its position in shares of Imperial Oil by 2.9% in the third quarter. Korea Investment CORP now owns 172,932 shares of the energy company’s stock valued at $15,684,000 after buying an additional 4,919 shares during the last quarter. Finally, IFG Advisory LLC boosted its stake in shares of Imperial Oil by 7.3% during the 3rd quarter. IFG Advisory LLC now owns 34,728 shares of the energy company’s stock worth $3,151,000 after acquiring an additional 2,369 shares during the period. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Stock Up 2.0%

Shares of IMO opened at $120.25 on Thursday. The firm has a 50 day simple moving average of $107.47 and a two-hundred day simple moving average of $96.81. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.27 and a quick ratio of 0.94. Imperial Oil Limited has a one year low of $58.76 and a one year high of $123.52. The company has a market cap of $58.15 billion, a P/E ratio of 26.26 and a beta of 0.66.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th will be issued a $0.87 dividend. The ex-dividend date is Thursday, March 5th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. Imperial Oil’s dividend payout ratio is presently 38.69%.

Analysts Set New Price Targets

A number of equities analysts have commented on IMO shares. Raymond James Financial cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Monday, December 8th. BMO Capital Markets cut shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a report on Monday, February 23rd. Finally, Royal Bank Of Canada lowered shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price target on the stock. in a research note on Monday, February 23rd. Five analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and an average price target 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.