Pictet Asset Management SA Buys 576 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Posted by on Feb 26th, 2023

Pictet Asset Management SA raised its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,863 shares of the energy company’s stock after purchasing an additional 576 shares during the quarter. Pictet Asset Management SA’s holdings in Imperial Oil were worth $3,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its position in Imperial Oil by 16.6% during the third quarter. Envestnet Asset Management Inc. now owns 39,214 shares of the energy company’s stock valued at $1,697,000 after purchasing an additional 5,584 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of Imperial Oil by 22.8% during the third quarter. Ontario Teachers Pension Plan Board now owns 141,727 shares of the energy company’s stock worth $6,129,000 after acquiring an additional 26,337 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Imperial Oil by 23.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,437,927 shares of the energy company’s stock worth $62,223,000 after acquiring an additional 274,269 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Imperial Oil during the third quarter worth approximately $369,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Imperial Oil by 1,406.1% during the third quarter. Tower Research Capital LLC TRC now owns 4,443 shares of the energy company’s stock worth $194,000 after acquiring an additional 4,148 shares in the last quarter. 20.76% of the stock is currently owned by institutional investors.

Imperial Oil Stock Up 0.3 %

Shares of NYSEAMERICAN IMO opened at $49.97 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18. Imperial Oil Limited has a 52 week low of $39.95 and a 52 week high of $58.99. The firm has a market capitalization of $29.19 billion, a P/E ratio of 6.54, a PEG ratio of 0.24 and a beta of 1.50.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Shareholders of record on Friday, March 3rd will be given a dividend of $0.3298 per share. This is an increase from Imperial Oil’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Thursday, March 2nd. Imperial Oil’s payout ratio is presently 17.15%.

Analyst Upgrades and Downgrades

Several research analysts have commented on IMO shares. Scotiabank decreased their price target on shares of Imperial Oil from C$78.00 to C$72.00 in a research note on Tuesday, January 17th. TD Securities decreased their price target on shares of Imperial Oil from C$82.00 to C$81.00 in a research note on Wednesday, December 21st. National Bank Financial lifted their price target on shares of Imperial Oil from C$80.00 to C$85.00 in a research note on Wednesday, January 11th. Desjardins lifted their price target on shares of Imperial Oil from C$70.00 to C$80.00 in a research note on Tuesday, November 8th. Finally, JPMorgan Chase & Co. downgraded shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Monday, December 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $79.33.

About Imperial Oil

(Get Rating)

Imperial Oil Ltd. engages in the provision of integrated oil business. It operates through the following business segments: Upstream, Downstream, Chemical, and Corporate and Other. The Upstream segment includes the exploration and production of crude oil, natural gas, synthetic oil, and bitumen. The Downstream segment focuses on refining crude oil into petroleum products.

Featured Stories

Institutional Ownership by Quarter for Imperial Oil (NYSEAMERICAN:IMO)

Receive News & Ratings for Imperial Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Imperial Oil and related companies with MarketBeat.com's FREE daily email newsletter.