Arrowstreet Capital Limited Partnership Invests $93.10 Million in Imperial Oil Limited $IMO

Arrowstreet Capital Limited Partnership purchased a new stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 710,881 shares of the energy company’s stock, valued at approximately $93,097,000.

Several other large investors have also recently modified their holdings of the stock. UBS Group AG grew its position in Imperial Oil by 566.9% during the 3rd quarter. UBS Group AG now owns 1,406,624 shares of the energy company’s stock valued at $127,637,000 after purchasing an additional 1,195,698 shares during the last quarter. Bank of America Corp DE increased its stake in Imperial Oil by 30.4% during the 3rd quarter. Bank of America Corp DE now owns 3,840,645 shares of the energy company’s stock valued at $348,500,000 after purchasing an additional 895,117 shares in the last quarter. Morgan Stanley raised its holdings in Imperial Oil by 47.9% in the fourth quarter. Morgan Stanley now owns 1,867,363 shares of the energy company’s stock worth $161,172,000 after buying an additional 604,447 shares during the last quarter. AQR Capital Management LLC raised its holdings in Imperial Oil by 335.8% in the fourth quarter. AQR Capital Management LLC now owns 277,929 shares of the energy company’s stock worth $24,006,000 after buying an additional 214,152 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Imperial Oil by 168.2% in the fourth quarter. BNP Paribas Financial Markets now owns 296,585 shares of the energy company’s stock worth $25,598,000 after buying an additional 185,995 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Imperial Capital reiterated a “sell” rating on shares of Imperial Oil in a report on Tuesday, June 23rd. Desjardins raised Imperial Oil to a “hold” rating in a research report on Thursday, July 16th. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a research note on Wednesday, May 13th. Scotiabank reiterated a “sector perform” rating on shares of Imperial Oil in a report on Friday, July 17th. Finally, Zacks Research upgraded shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Imperial Oil has an average rating of “Reduce” and an average price target of $116.00.

Imperial Oil Stock Down 0.3%

IMO opened at $128.48 on Friday. The firm’s 50 day simple moving average is $121.36 and its two-hundred day simple moving average is $119.07. The company has a market capitalization of $62.13 billion, a PE ratio of 30.30 and a beta of 0.45. Imperial Oil Limited has a 1-year low of $81.87 and a 1-year high of $139.44. The company has a current ratio of 1.23, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17.

Imperial Oil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Thursday, June 4th were issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, June 4th. Imperial Oil’s payout ratio is currently 38.24%.

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.