Franklin Resources Inc. Acquires 1,619 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Franklin Resources Inc. increased its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 0.9% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 191,647 shares of the energy company’s stock after buying an additional 1,619 shares during the quarter. Franklin Resources Inc.’s holdings in Imperial Oil were worth $13,502,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. BNP Paribas Financial Markets bought a new stake in Imperial Oil in the 3rd quarter worth approximately $28,000. Grove Bank & Trust boosted its stake in shares of Imperial Oil by 438.0% in the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock worth $38,000 after buying an additional 438 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Imperial Oil by 21.0% in the third quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock worth $95,000 after acquiring an additional 234 shares during the period. Oakworth Capital Inc. purchased a new stake in Imperial Oil during the third quarter valued at $101,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Imperial Oil in the third quarter valued at about $137,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Scotiabank restated a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. downgraded shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $109.00.

Imperial Oil Stock Performance

Shares of IMO opened at $61.73 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.23. Imperial Oil Limited has a 52 week low of $54.58 and a 52 week high of $80.17. The stock has a market capitalization of $31.64 billion, a price-to-earnings ratio of 9.20 and a beta of 1.42.

Imperial Oil Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.4304 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Tuesday, December 3rd. Imperial Oil’s payout ratio is 26.38%.

Imperial Oil Company Profile

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.