Arrowstreet Capital Limited Partnership Takes $93.10 Million Position in Imperial Oil Limited $IMO

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 710,881 shares of the energy company’s stock, valued at approximately $93,097,000. Arrowstreet Capital Limited Partnership owned approximately 0.15% of Imperial Oil at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of IMO. UBS Group AG boosted its stake in shares of 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 lifted its stake in shares of 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 acquiring an additional 895,117 shares during the last quarter. Morgan Stanley boosted its holdings in Imperial Oil by 47.9% during the 4th quarter. Morgan Stanley now owns 1,867,363 shares of the energy company’s stock valued at $161,172,000 after acquiring an additional 604,447 shares during the period. AQR Capital Management LLC boosted its holdings in Imperial Oil by 335.8% during the 4th quarter. AQR Capital Management LLC now owns 277,929 shares of the energy company’s stock valued at $24,006,000 after acquiring an additional 214,152 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Imperial Oil by 168.2% during the 4th quarter. BNP Paribas Financial Markets now owns 296,585 shares of the energy company’s stock worth $25,598,000 after acquiring an additional 185,995 shares during the last quarter. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

IMO opened at $128.48 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 market capitalization of $62.13 billion, a PE ratio of 30.30 and a beta of 0.45. The stock’s 50 day moving average price is $121.36 and its 200-day moving average price is $119.07. Imperial Oil Limited has a 52-week low of $81.87 and a 52-week high of $139.44.

Imperial Oil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Thursday, June 4th were given a $0.87 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $3.48 annualized dividend and a dividend yield of 2.7%. Imperial Oil’s dividend payout ratio is currently 38.24%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on IMO shares. Desjardins raised Imperial Oil to a “hold” rating in a research note on Thursday, July 16th. Zacks Research upgraded shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. TD Securities restated a “sell” rating on shares of Imperial Oil in a report on Wednesday, May 13th. Scotiabank reaffirmed a “sector perform” rating on shares of Imperial Oil in a research note on Friday, July 17th. Finally, Imperial Capital reiterated a “sell” rating on shares of Imperial Oil in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Imperial Oil has a consensus rating of “Reduce” and a consensus price target of $116.00.

Imperial Oil Company Profile

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.