Imperial Oil Limited $IMO Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. lifted its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 32.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,278 shares of the energy company’s stock after purchasing an additional 7,588 shares during the quarter. Bessemer Group Inc.’s holdings in Imperial Oil were worth $2,482,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Amundi raised its position in shares of Imperial Oil by 0.5% during the 1st quarter. Amundi now owns 617,706 shares of the energy company’s stock worth $42,368,000 after purchasing an additional 3,275 shares during the period. Northern Trust Corp raised its position in shares of Imperial Oil by 2.0% during the 1st quarter. Northern Trust Corp now owns 199,021 shares of the energy company’s stock worth $14,393,000 after purchasing an additional 3,889 shares during the period. PDS Planning Inc acquired a new stake in shares of Imperial Oil during the 2nd quarter worth approximately $237,000. LPL Financial LLC raised its position in shares of Imperial Oil by 68.6% during the 1st quarter. LPL Financial LLC now owns 79,692 shares of the energy company’s stock worth $5,763,000 after purchasing an additional 32,437 shares during the period. Finally, Maryland State Retirement & Pension System raised its position in shares of Imperial Oil by 12.6% during the 2nd quarter. Maryland State Retirement & Pension System now owns 67,867 shares of the energy company’s stock worth $5,400,000 after purchasing an additional 7,595 shares during the period. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IMO has been the topic of a number of research reports. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 23rd. Zacks Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. TD Securities cut Imperial Oil from a “hold” rating to a “sell” rating in a research report on Tuesday, September 30th. BMO Capital Markets restated an “outperform” rating on shares of Imperial Oil in a research report on Monday, August 4th. Finally, Raymond James Financial cut Imperial Oil from a “moderate buy” rating to a “hold” rating in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Imperial Oil currently has an average rating of “Reduce” and a consensus target price of $115.00.

Imperial Oil Stock Up 1.1%

IMO opened at $92.39 on Thursday. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $96.09. The stock has a market cap of $45.90 billion, a P/E ratio of 14.24 and a beta of 0.83. The stock’s 50 day moving average price is $89.88 and its 200 day moving average price is $81.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.34.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Thursday, September 4th were given a dividend of $0.72 per share. This is a boost from Imperial Oil’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, September 4th. This represents a $2.88 annualized dividend and a dividend yield of 3.1%. Imperial Oil’s payout ratio is 31.87%.

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.