Parallel Advisors LLC Boosts Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

Parallel Advisors LLC lifted its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 5.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,821 shares of the energy company’s stock after purchasing an additional 345 shares during the period. Parallel Advisors LLC’s holdings in Imperial Oil were worth $420,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. FMR LLC increased its stake in shares of Imperial Oil by 3.7% in the third quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock worth $2,598,604,000 after purchasing an additional 1,331,235 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Imperial Oil by 8.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company’s stock worth $311,175,000 after buying an additional 341,689 shares in the last quarter. Geode Capital Management LLC increased its stake in Imperial Oil by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company’s stock worth $59,502,000 after buying an additional 70,357 shares in the last quarter. National Bank of Canada FI grew its position in shares of Imperial Oil by 13.3% during the third quarter. National Bank of Canada FI now owns 751,038 shares of the energy company’s stock worth $52,885,000 after purchasing an additional 87,914 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Imperial Oil by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 548,554 shares of the energy company’s stock worth $38,630,000 after purchasing an additional 16,555 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on IMO shares. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. cut shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $109.00.

Imperial Oil Stock Down 0.1 %

Shares of NYSEAMERICAN:IMO opened at $71.21 on Friday. The stock has a market cap of $36.25 billion, a PE ratio of 10.81 and a beta of 1.44. Imperial Oil Limited has a 52 week low of $60.95 and a 52 week high of $80.17. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $68.46.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th will be issued a $0.4972 dividend. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.99 dividend on an annualized basis and a dividend yield of 2.79%. Imperial Oil’s payout ratio is 25.80%.

Imperial Oil 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.