JPMorgan Chase & Co. Has $96.88 Million Stock Holdings in Imperial Oil Limited $IMO

JPMorgan Chase & Co. lifted its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 22.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,067,657 shares of the energy company’s stock after purchasing an additional 195,730 shares during the period. JPMorgan Chase & Co. owned 0.21% of Imperial Oil worth $96,879,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. AQR Capital Management LLC boosted its holdings in shares of Imperial Oil by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 34,218 shares of the energy company’s stock worth $2,475,000 after buying an additional 1,627 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Imperial Oil by 54.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,887 shares of the energy company’s stock worth $860,000 after purchasing an additional 4,201 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Imperial Oil in the 1st quarter valued at about $200,000. Envestnet Asset Management Inc. increased its position in Imperial Oil by 8.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 73,988 shares of the energy company’s stock valued at $5,881,000 after buying an additional 5,689 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its position in Imperial Oil by 3.9% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 49,385 shares of the energy company’s stock valued at $3,951,000 after buying an additional 1,833 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. BMO Capital Markets lowered Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a report on Monday. Raymond James Financial lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Monday, December 8th. Finally, Royal Bank Of Canada lowered shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price objective on the stock. in a research note on Monday. Five research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, Imperial Oil currently has a consensus rating of “Strong Sell” and an average price target of $116.00.

Imperial Oil Price Performance

Shares of NYSEAMERICAN:IMO opened at $118.51 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.18. The stock has a market cap of $57.31 billion, a PE ratio of 25.88 and a beta of 0.70. The stock’s fifty day simple moving average is $99.62 and its two-hundred day simple moving average is $94.01. Imperial Oil Limited has a 1-year low of $58.76 and a 1-year high of $123.52.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. Imperial Oil’s payout ratio is currently 31.26%.

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.