Mufg Securities Canada LTD. Has $23.56 Million Stock Holdings in Imperial Oil Limited $IMO

Mufg Securities Canada LTD. lessened its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 259,881 shares of the energy company’s stock after selling 7,640 shares during the quarter. Mufg Securities Canada LTD. owned approximately 0.05% of Imperial Oil worth $23,561,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. MAI Capital Management boosted its holdings in shares of Imperial Oil by 2,275.0% during the 2nd quarter. MAI Capital Management now owns 380 shares of the energy company’s stock valued at $30,000 after acquiring an additional 364 shares in the last quarter. Westside Investment Management Inc. raised its position in Imperial Oil by 100.0% in the third quarter. Westside Investment Management Inc. now owns 426 shares of the energy company’s stock valued at $38,000 after purchasing an additional 213 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Imperial Oil by 64.8% in the third quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock valued at $40,000 after purchasing an additional 169 shares during the last quarter. Tacita Capital Inc boosted its stake in shares of Imperial Oil by 66.8% during the third quarter. Tacita Capital Inc now owns 934 shares of the energy company’s stock valued at $85,000 after purchasing an additional 374 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Imperial Oil during the third quarter worth about $123,000. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IMO has been the subject of a number of research reports. Raymond James Financial lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. Royal Bank Of Canada cut shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price target for the company. in a research report on Monday, February 23rd. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a report on Monday, February 23rd. Finally, BMO Capital Markets cut shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. Five analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, Imperial Oil has a consensus rating of “Strong Sell” and a consensus price target of $116.00.

Imperial Oil Trading Up 0.4%

NYSEAMERICAN IMO opened at $117.30 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.18. Imperial Oil Limited has a 52 week low of $58.76 and a 52 week high of $123.52. The business has a 50 day moving average price of $102.17 and a 200-day moving average price of $94.85. The company has a market cap of $56.73 billion, a price-to-earnings ratio of 25.61 and a beta of 0.70.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 5th will be issued a dividend of $0.87 per share. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Thursday, March 5th. Imperial Oil’s dividend payout ratio is 31.26%.

Imperial Oil Profile

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.