Fmr LLC Purchases 1,331,235 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Fmr LLC lifted its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,933,627 shares of the energy company’s stock after acquiring an additional 1,331,235 shares during the period. Fmr LLC owned 6.99% of Imperial Oil worth $2,598,604,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in IMO. Manning & Napier Advisors LLC purchased a new position in shares of Imperial Oil in the 2nd quarter worth about $3,064,000. Fiera Capital Corp boosted its holdings in shares of Imperial Oil by 262.5% in the second quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock worth $6,511,000 after buying an additional 69,121 shares during the last quarter. Ritholtz Wealth Management grew its position in shares of Imperial Oil by 17.4% during the 3rd quarter. Ritholtz Wealth Management now owns 59,726 shares of the energy company’s stock valued at $4,208,000 after acquiring an additional 8,858 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Imperial Oil by 855.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 35,981 shares of the energy company’s stock worth $2,534,000 after purchasing an additional 32,214 shares in the last quarter. Finally, M&G Plc bought a new position in Imperial Oil in the 2nd quarter worth $627,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. StockNews.com cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Scotiabank reissued a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $109.00.

Imperial Oil Stock Performance

Imperial Oil stock opened at $75.72 on Tuesday. Imperial Oil Limited has a 12-month low of $52.97 and a 12-month high of $80.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.23. The stock has a market capitalization of $39.21 billion, a PE ratio of 11.28 and a beta of 1.44.

Imperial Oil Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.4304 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Tuesday, December 3rd. Imperial Oil’s payout ratio is currently 26.53%.

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.