Imperial Oil Limited $IMO Stake Lifted by NewEdge Wealth LLC

NewEdge Wealth LLC increased its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 15.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,203 shares of the energy company’s stock after acquiring an additional 11,737 shares during the period. NewEdge Wealth LLC’s holdings in Imperial Oil were worth $11,408,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IMO. Barometer Capital Management Inc. raised its holdings in Imperial Oil by 14.8% during the first quarter. Barometer Capital Management Inc. now owns 65,870 shares of the energy company’s stock worth $8,617,000 after purchasing an additional 8,470 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new position in Imperial Oil during the 1st quarter valued at $852,000. Meeder Advisory Services Inc. bought a new position in Imperial Oil during the 1st quarter valued at $265,000. Parallel Advisors LLC raised its stake in shares of Imperial Oil by 4.8% in the 1st quarter. Parallel Advisors LLC now owns 6,814 shares of the energy company’s stock worth $892,000 after buying an additional 311 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Imperial Oil by 23.6% in the 1st quarter. Swiss National Bank now owns 569,676 shares of the energy company’s stock worth $74,508,000 after buying an additional 108,700 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Price Performance

Shares of NYSEAMERICAN:IMO opened at $125.68 on Thursday. Imperial Oil Limited has a one year low of $81.87 and a one year high of $139.44. The stock has a fifty day moving average of $121.56 and a 200-day moving average of $118.72. The company has a market capitalization of $60.78 billion, a PE ratio of 29.64 and a beta of 0.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.23.

Imperial Oil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Thursday, June 4th were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. Imperial Oil’s payout ratio is 38.24%.

Analysts Set New Price Targets

Several brokerages recently weighed in on IMO. TD Securities reaffirmed 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 research report on Friday, July 17th. Desjardins raised shares of Imperial Oil to a “hold” rating in a report on Thursday, July 16th. Imperial Capital restated a “sell” rating on shares of Imperial Oil in a research report on Tuesday, June 23rd. Finally, Zacks Research raised 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, four have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, Imperial Oil presently has a consensus rating of “Reduce” and an average target price of $116.00.

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.