Mufg Securities Canada LTD. Sells 25,356 Shares of Imperial Oil Limited $IMO

Mufg Securities Canada LTD. lessened its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 9.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 234,525 shares of the energy company’s stock after selling 25,356 shares during the quarter. Mufg Securities Canada LTD.’s holdings in Imperial Oil were worth $20,266,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Root Financial Partners LLC grew its stake in Imperial Oil by 87.8% in the fourth quarter. Root Financial Partners LLC now owns 293 shares of the energy company’s stock valued at $25,000 after acquiring an additional 137 shares during the period. McMillan Office Inc. acquired a new position in Imperial Oil in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC grew its stake in Imperial Oil by 64.8% in the third quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock valued at $40,000 after acquiring an additional 169 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Imperial Oil by 737.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company’s stock valued at $46,000 after acquiring an additional 450 shares during the period. Finally, Measured Wealth Private Client Group LLC acquired a new position in Imperial Oil in the third quarter valued at about $54,000. Institutional investors own 20.74% of the company’s stock.

Wall Street Analyst Weigh In

IMO has been the subject of a number of research analyst reports. Zacks Research raised Imperial Oil from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 24th. Royal Bank Of Canada cut Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 target price for the company. in a research note on Monday, February 23rd. Finally, TD Securities reissued a “sell” rating on shares of Imperial Oil in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $116.00.

Imperial Oil Stock Performance

Shares of Imperial Oil stock opened at $121.29 on Monday. The firm has a market cap of $58.65 billion, a price-to-earnings ratio of 28.61 and a beta of 0.43. The stock’s 50-day moving average is $127.72 and its 200-day moving average is $113.42. Imperial Oil Limited has a one year low of $77.20 and a one year high of $139.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 1.02.

Imperial Oil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 4th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Thursday, June 4th. Imperial Oil’s payout ratio is 38.24%.

Imperial Oil Company 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.