Mitsubishi UFJ Trust & Banking Corp Reduces Stock Position in Imperial Oil Limited $IMO

Mitsubishi UFJ Trust & Banking Corp decreased its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,484 shares of the energy company’s stock after selling 6,522 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Imperial Oil were worth $16,455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE grew its stake in shares of Imperial Oil by 31.6% in the second quarter. Bank of America Corp DE now owns 2,945,528 shares of the energy company’s stock worth $234,111,000 after purchasing an additional 707,985 shares during the last quarter. Bank of Montreal Can lifted its holdings in Imperial Oil by 16.2% in the 2nd quarter. Bank of Montreal Can now owns 3,235,443 shares of the energy company’s stock worth $257,194,000 after buying an additional 451,369 shares during the period. TD Waterhouse Canada Inc. grew its position in shares of Imperial Oil by 219.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 532,311 shares of the energy company’s stock worth $42,668,000 after buying an additional 365,936 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Imperial Oil by 18.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,053,989 shares of the energy company’s stock valued at $163,413,000 after buying an additional 318,696 shares during the period. Finally, Fiera Capital Corp increased its stake in shares of Imperial Oil by 1,294.3% during the second quarter. Fiera Capital Corp now owns 304,811 shares of the energy company’s stock valued at $24,220,000 after buying an additional 282,949 shares during the period. 20.74% of the stock is owned by institutional investors.

Imperial Oil Stock Performance

Shares of IMO stock opened at $103.19 on Wednesday. The company’s fifty day moving average price is $92.68 and its 200-day moving average price is $90.03. The stock has a market cap of $49.90 billion, a PE ratio of 18.59 and a beta of 0.70. The company has a current ratio of 1.47, a quick ratio of 1.17 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $104.09.

Imperial Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 1st. Investors of record on Wednesday, December 3rd were paid a $0.72 dividend. The ex-dividend date was Wednesday, December 3rd. This represents a $2.88 annualized dividend and a dividend yield of 2.8%. Imperial Oil’s dividend payout ratio is presently 31.26%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Cibc World Mkts lowered Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Raymond James Financial lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Imperial Oil in a research note on Wednesday, November 5th. Zacks Research cut shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, TD Securities reissued a “sell” rating on shares of Imperial Oil in a research note on Tuesday, November 4th. Six research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $115.00.

About Imperial Oil

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.