Imperial Oil Limited $IMO Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp grew its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 56.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,194,462 shares of the energy company’s stock after purchasing an additional 428,844 shares during the period. Mackenzie Financial Corp owned approximately 0.24% of Imperial Oil worth $108,282,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in Imperial Oil by 13.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 84,287 shares of the energy company’s stock worth $7,648,000 after acquiring an additional 10,299 shares during the period. MAI Capital Management grew its stake in shares of Imperial Oil by 2,776.1% in the third quarter. MAI Capital Management now owns 10,929 shares of the energy company’s stock worth $992,000 after purchasing an additional 10,549 shares in the last quarter. Argent Trust Co acquired a new position in shares of Imperial Oil during the third quarter valued at $2,308,000. Scotia Capital Inc. raised its stake in shares of Imperial Oil by 3.5% during the second quarter. Scotia Capital Inc. now owns 233,736 shares of the energy company’s stock valued at $18,456,000 after purchasing an additional 7,940 shares in the last quarter. Finally, Vise Technologies Inc. bought a new stake in shares of Imperial Oil during the second quarter valued at about $1,235,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Wall Street Analyst Weigh In

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

Imperial Oil Trading Up 2.0%

Shares of Imperial Oil stock opened at $120.25 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.18. The firm has a market cap of $58.15 billion, a price-to-earnings ratio of 26.26 and a beta of 0.66. The business has a fifty day simple moving average of $107.47 and a 200-day simple moving average of $96.81. Imperial Oil Limited has a fifty-two week low of $58.76 and a fifty-two week high of $123.52.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. Imperial Oil’s dividend payout ratio is currently 38.69%.

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.