Bank of New York Mellon Corp Boosts Stake in Imperial Oil Limited (NYSEAMERICAN:IMO)

Bank of New York Mellon Corp increased its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 243,304 shares of the energy company’s stock after purchasing an additional 8,198 shares during the quarter. Bank of New York Mellon Corp’s holdings in Imperial Oil were worth $14,988,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in IMO. BNP Paribas Financial Markets purchased a new position in shares of Imperial Oil during the third quarter valued at approximately $28,000. Winch Advisory Services LLC purchased a new position in Imperial Oil during the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new stake in Imperial Oil in the fourth quarter worth $41,000. Allworth Financial LP grew its stake in shares of Imperial Oil by 21.0% in the fourth quarter. Allworth Financial LP now owns 1,630 shares of the energy company’s stock worth $100,000 after acquiring an additional 283 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Imperial Oil during the third quarter valued at $137,000. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Stock Up 1.0 %

NYSEAMERICAN IMO opened at $67.06 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34. Imperial Oil Limited has a twelve month low of $60.95 and a twelve month high of $80.17. The stock has a 50-day simple moving average of $67.45. The company has a market capitalization of $34.14 billion, a price-to-earnings ratio of 10.18 and a beta of 1.44.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th will be given a $0.4972 dividend. This represents a $1.99 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. Imperial Oil’s payout ratio is currently 25.80%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IMO shares. JPMorgan Chase & Co. downgraded shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. Wolfe Research lowered Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $109.00.

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.