Raymond James Financial Inc. Invests $7.98 Million in Imperial Oil Limited (NYSEAMERICAN:IMO)

Raymond James Financial Inc. purchased a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 129,584 shares of the energy company’s stock, valued at approximately $7,982,000.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Imperial Oil by 9.1% in the third quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company’s stock valued at $59,502,000 after buying an additional 70,357 shares during the last quarter. Mediolanum International Funds Ltd lifted its holdings in Imperial Oil by 42.8% in the fourth quarter. Mediolanum International Funds Ltd now owns 14,364 shares of the energy company’s stock valued at $874,000 after acquiring an additional 4,308 shares during the period. Bridgewater Associates LP lifted its holdings in Imperial Oil by 522.8% in the third quarter. Bridgewater Associates LP now owns 201,126 shares of the energy company’s stock valued at $14,166,000 after acquiring an additional 168,831 shares during the period. National Bank of Canada FI lifted its holdings in Imperial Oil by 13.3% in the third quarter. National Bank of Canada FI now owns 751,038 shares of the energy company’s stock valued at $52,885,000 after acquiring an additional 87,914 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in Imperial Oil in the third quarter valued at approximately $28,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Analyst Upgrades and Downgrades

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

Imperial Oil Stock Performance

NYSEAMERICAN IMO opened at $71.21 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average price of $68.46. The firm has a market cap of $36.25 billion, a P/E ratio of 10.81 and a beta of 1.44. Imperial Oil Limited has a one year low of $60.95 and a one year high of $80.17.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th will be issued a $0.4972 dividend. This is a boost from Imperial Oil’s previous quarterly dividend of $0.43. This represents a $1.99 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, March 5th. Imperial Oil’s dividend payout ratio is presently 25.80%.

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.