Vise Technologies Inc. Makes New $1.24 Million Investment in Imperial Oil Limited $IMO

Vise Technologies Inc. bought a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,535 shares of the energy company’s stock, valued at approximately $1,235,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. IMG Wealth Management Inc. purchased a new position in shares of Imperial Oil in the second quarter valued at $28,000. Northwestern Mutual Wealth Management Co. grew its stake in Imperial Oil by 88.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company’s stock worth $39,000 after acquiring an additional 255 shares during the period. Banque Transatlantique SA acquired a new position in Imperial Oil in the first quarter valued at $87,000. Lingohr Asset Management GmbH purchased a new position in shares of Imperial Oil during the 2nd quarter worth about $204,000. Finally, Bridgewater Advisors Inc. acquired a new position in shares of Imperial Oil in the 2nd quarter valued at $229,000. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on IMO. Tudor Pickering cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. BMO Capital Markets reiterated an “outperform” rating on shares of Imperial Oil in a report on Monday, August 4th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Imperial Oil in a research note on Wednesday, November 5th. TD Securities restated a “sell” rating on shares of Imperial Oil in a research report on Tuesday, November 4th. Finally, Cibc World Mkts cut Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, Imperial Oil presently has an average rating of “Reduce” and an average target price of $115.00.

Imperial Oil Stock Performance

Shares of IMO stock opened at $97.43 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.34. Imperial Oil Limited has a fifty-two week low of $58.76 and a fifty-two week high of $97.86. The stock’s 50-day moving average is $90.53 and its two-hundred day moving average is $83.14. The firm has a market cap of $48.41 billion, a P/E ratio of 15.05 and a beta of 0.83.

Imperial Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.0%. Imperial Oil’s dividend payout ratio is currently 31.87%.

About Imperial Oil

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.