Imperial Oil Limited $IMO Shares Acquired by Korea Investment CORP

Korea Investment CORP increased its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 15.8% in the second quarter, Holdings Channel reports. The firm owned 168,013 shares of the energy company’s stock after purchasing an additional 22,870 shares during the period. Korea Investment CORP’s holdings in Imperial Oil were worth $13,320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. IMG Wealth Management Inc. purchased a new position in shares of Imperial Oil during the second quarter worth $28,000. MAI Capital Management increased its stake in shares of Imperial Oil by 2,275.0% in the 2nd quarter. MAI Capital Management now owns 380 shares of the energy company’s stock valued at $30,000 after purchasing an additional 364 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Imperial Oil by 88.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company’s stock worth $39,000 after purchasing an additional 255 shares during the period. Banque Transatlantique SA acquired a new position in Imperial Oil in the 1st quarter worth about $87,000. Finally, Focus Partners Wealth purchased a new stake in shares of Imperial Oil in the first quarter valued at approximately $200,000. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Imperial Oil Trading Up 0.1%

Shares of IMO stock opened at $98.80 on Monday. The company has a 50 day moving average price of $92.24 and a 200 day moving average price of $85.65. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.58. Imperial Oil Limited has a fifty-two week low of $58.76 and a fifty-two week high of $101.01. The stock has a market capitalization of $49.09 billion, a P/E ratio of 15.22 and a beta of 0.83.

Imperial Oil Announces Dividend

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

Analysts Set New Price Targets

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

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.