Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 3.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 123,288 shares of the energy company’s stock after purchasing an additional 3,902 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Imperial Oil were worth $7,594,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in IMO. FMR LLC boosted its stake in shares of Imperial Oil by 3.7% during the 3rd quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock worth $2,598,604,000 after purchasing an additional 1,331,235 shares during the period. The Manufacturers Life Insurance Company grew its stake in Imperial Oil by 8.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company’s stock worth $311,175,000 after acquiring an additional 341,689 shares in the last quarter. Point72 Europe London LLP grew its stake in Imperial Oil by 131.2% in the 3rd quarter. Point72 Europe London LLP now owns 356,972 shares of the energy company’s stock worth $25,134,000 after acquiring an additional 202,590 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Imperial Oil by 9.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,107,250 shares of the energy company’s stock worth $148,235,000 after acquiring an additional 187,158 shares in the last quarter. Finally, Bridgewater Associates LP grew its stake in Imperial Oil by 522.8% in the 3rd quarter. Bridgewater Associates LP now owns 201,126 shares of the energy company’s stock worth $14,166,000 after acquiring an additional 168,831 shares in the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Stock Performance

NYSEAMERICAN IMO opened at $66.62 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’s 50 day simple moving average is $67.55. Imperial Oil Limited has a 52-week low of $60.95 and a 52-week high of $80.17. The company has a market capitalization of $33.91 billion, a P/E ratio of 10.11 and a beta of 1.44.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.4972 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.43. This represents a $1.99 dividend on an annualized basis and a dividend yield of 2.98%. Imperial Oil’s dividend payout ratio (DPR) is currently 25.80%.

Analyst Ratings Changes

A number of brokerages have commented on IMO. Wolfe Research downgraded shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. downgraded shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.