BNP Paribas Financial Markets Makes New Investment in Imperial Oil Limited (NYSEAMERICAN:IMO)

BNP Paribas Financial Markets purchased a new stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 400 shares of the energy company’s stock, valued at approximately $28,000.

Several other hedge funds also recently modified their holdings of the business. Grove Bank & Trust grew its stake in shares of Imperial Oil by 438.0% in the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock valued at $38,000 after purchasing an additional 438 shares during the period. Allworth Financial LP boosted its holdings in Imperial Oil by 21.0% in the third quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock valued at $95,000 after acquiring an additional 234 shares during the last quarter. Oakworth Capital Inc. bought a new stake in Imperial Oil during the 3rd quarter worth about $101,000. Cubist Systematic Strategies LLC boosted its stake in Imperial Oil by 43.8% in the second quarter. Cubist Systematic Strategies LLC now owns 2,300 shares of the energy company’s stock valued at $157,000 after acquiring an additional 700 shares during the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new position in Imperial Oil in the third quarter valued at about $207,000. 20.74% of the stock is owned by institutional investors.

Imperial Oil Stock Performance

IMO opened at $61.73 on Friday. The company has a market capitalization of $31.64 billion, a PE ratio of 9.20 and a beta of 1.42. Imperial Oil Limited has a 1-year low of $54.58 and a 1-year high of $80.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44.

Imperial Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.4304 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.79%. Imperial Oil’s dividend payout ratio (DPR) is presently 26.38%.

Wall Street Analysts Forecast Growth

IMO has been the subject of a number of research reports. Scotiabank reissued a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lowered shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday. Finally, StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $109.00.

Imperial Oil 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.