Citigroup Inc. Grows Stock Position in Imperial Oil Limited $IMO

Citigroup Inc. grew its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 107.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 282,428 shares of the energy company’s stock after purchasing an additional 146,024 shares during the period. Citigroup Inc. owned approximately 0.06% of Imperial Oil worth $25,614,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IMO. AQR Capital Management LLC raised its position in shares of Imperial Oil by 5.0% in the 1st quarter. AQR Capital Management LLC now owns 34,218 shares of the energy company’s stock valued at $2,475,000 after purchasing an additional 1,627 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Imperial Oil by 54.7% in the first quarter. NewEdge Advisors LLC now owns 11,887 shares of the energy company’s stock worth $860,000 after buying an additional 4,201 shares during the last quarter. Focus Partners Wealth acquired a new stake in Imperial Oil in the first quarter valued at $200,000. Envestnet Asset Management Inc. boosted its stake in Imperial Oil by 8.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 73,988 shares of the energy company’s stock valued at $5,881,000 after acquiring an additional 5,689 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in Imperial Oil by 32.0% during the 2nd quarter. Bessemer Group Inc. now owns 31,278 shares of the energy company’s stock worth $2,482,000 after acquiring an additional 7,588 shares in the last quarter. 20.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Imperial Oil Stock Up 0.5%

Shares of Imperial Oil stock opened at $116.21 on Thursday. 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 1-year low of $58.76 and a 1-year high of $123.52. The business’s fifty day moving average price is $100.85 and its two-hundred day moving average price is $94.38. The company has a market capitalization of $56.20 billion, a P/E ratio of 25.37 and a beta of 0.70.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 3.0%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date is Thursday, March 5th. Imperial Oil’s dividend payout ratio is 31.26%.

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.