Mufg Securities Canada LTD. Buys 101,056 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Mufg Securities Canada LTD. boosted its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 68.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 247,769 shares of the energy company’s stock after purchasing an additional 101,056 shares during the quarter. Mufg Securities Canada LTD.’s holdings in Imperial Oil were worth $15,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IMO. Signaturefd LLC lifted its position in shares of Imperial Oil by 2.0% during the fourth quarter. Signaturefd LLC now owns 7,648 shares of the energy company’s stock valued at $471,000 after buying an additional 150 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Imperial Oil by 4.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,916 shares of the energy company’s stock worth $241,000 after acquiring an additional 163 shares in the last quarter. Gold Investment Management Ltd. lifted its position in Imperial Oil by 0.7% during the fourth quarter. Gold Investment Management Ltd. now owns 27,904 shares of the energy company’s stock valued at $1,719,000 after acquiring an additional 186 shares during the last quarter. OLD National Bancorp IN boosted its stake in Imperial Oil by 5.0% in the fourth quarter. OLD National Bancorp IN now owns 3,920 shares of the energy company’s stock valued at $241,000 after acquiring an additional 187 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Imperial Oil by 21.0% in the fourth quarter. Allworth Financial LP now owns 1,630 shares of the energy company’s stock worth $100,000 after purchasing an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

NYSEAMERICAN IMO opened at $73.34 on Wednesday. The firm has a market cap of $37.33 billion, a P/E ratio of 11.13 and a beta of 1.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34. The firm has a fifty day moving average price of $68.88. Imperial Oil Limited has a 1 year low of $60.95 and a 1 year high of $80.17.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th will be paid a $0.4972 dividend. This represents a $1.99 annualized dividend and a dividend yield of 2.71%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 5th. Imperial Oil’s dividend payout ratio (DPR) is presently 25.80%.

Analyst Upgrades and Downgrades

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

Imperial Oil Company 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.