Legal & General Group Plc Purchases 57,652 Shares of Imperial Oil Limited $IMO

Legal & General Group Plc boosted its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 990,077 shares of the energy company’s stock after purchasing an additional 57,652 shares during the quarter. Legal & General Group Plc owned approximately 0.20% of Imperial Oil worth $85,649,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of IMO. AQR Capital Management LLC increased its holdings in shares of Imperial Oil by 5.0% during the first quarter. AQR Capital Management LLC now owns 34,218 shares of the energy company’s stock valued at $2,475,000 after acquiring an additional 1,627 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Imperial Oil by 54.7% during the first quarter. NewEdge Advisors LLC now owns 11,887 shares of the energy company’s stock valued at $860,000 after acquiring an additional 4,201 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Imperial Oil during the first quarter valued at $200,000. Cetera Investment Advisers increased its holdings in shares of Imperial Oil by 6.8% during the second quarter. Cetera Investment Advisers now owns 4,569 shares of the energy company’s stock valued at $363,000 after acquiring an additional 291 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Imperial Oil by 4.7% during the second quarter. Invesco Ltd. now owns 354,865 shares of the energy company’s stock valued at $28,205,000 after acquiring an additional 15,834 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Zacks Research upgraded Imperial Oil from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. Royal Bank Of Canada downgraded Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price target for the company. in a report on Monday, February 23rd. Finally, TD Securities restated a “sell” rating on shares of Imperial Oil in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $116.00.

Imperial Oil Trading Down 3.2%

Shares of IMO stock opened at $118.72 on Friday. Imperial Oil Limited has a 12-month low of $70.87 and a 12-month high of $139.44. The company has a current ratio of 1.23, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $128.99 and its 200 day moving average is $111.58. The stock has a market capitalization of $57.41 billion, a P/E ratio of 28.00 and a beta of 0.48.

Imperial Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 4th will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, June 4th. Imperial Oil’s dividend payout ratio (DPR) is presently 38.69%.

About Imperial Oil

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.