PNC Financial Services Group Inc. Grows Position in Imperial Oil Limited $IMO

PNC Financial Services Group Inc. raised its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,766 shares of the energy company’s stock after acquiring an additional 816 shares during the period. PNC Financial Services Group Inc.’s holdings in Imperial Oil were worth $15,480,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IMO. Goldman Sachs Group Inc. raised its holdings in shares of Imperial Oil by 395.8% in the first quarter. Goldman Sachs Group Inc. now owns 4,546,520 shares of the energy company’s stock valued at $328,804,000 after purchasing an additional 3,629,568 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Imperial Oil by 273.2% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 658,949 shares of the energy company’s stock worth $47,607,000 after purchasing an additional 482,393 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Imperial Oil by 1,233.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 498,056 shares of the energy company’s stock worth $35,983,000 after purchasing an additional 460,696 shares in the last quarter. Bank of Montreal Can increased its stake in Imperial Oil by 16.2% in the 2nd quarter. Bank of Montreal Can now owns 3,235,443 shares of the energy company’s stock valued at $257,194,000 after buying an additional 451,369 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Imperial Oil by 18.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,053,989 shares of the energy company’s stock worth $163,413,000 after buying an additional 318,696 shares in the last quarter. Institutional investors own 20.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IMO shares. Tudor Pickering lowered Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Cibc World Mkts downgraded Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Imperial Oil in a research report on Monday, August 4th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Imperial Oil in a report on Wednesday, November 5th. Finally, Zacks Research lowered shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, Imperial Oil has a consensus rating of “Reduce” and a consensus price target of $115.00.

Imperial Oil Stock Performance

NYSEAMERICAN:IMO opened at $98.93 on Friday. The company has a market capitalization of $49.15 billion, a P/E ratio of 15.24 and a beta of 0.83. The business has a fifty day simple moving average of $90.94 and a two-hundred day simple moving average of $83.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.34. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $99.17.

Imperial Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Wednesday, December 3rd will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, December 3rd. Imperial Oil’s payout ratio is currently 31.87%.

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.