NewEdge Advisors LLC Raises Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

NewEdge Advisors LLC lifted its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 15.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,686 shares of the energy company’s stock after buying an additional 1,002 shares during the period. NewEdge Advisors LLC’s holdings in Imperial Oil were worth $473,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of IMO. Bridgewater Associates LP boosted its holdings in Imperial Oil by 39.7% in the fourth quarter. Bridgewater Associates LP now owns 281,033 shares of the energy company’s stock valued at $17,311,000 after purchasing an additional 79,907 shares during the last quarter. Scotia Capital Inc. boosted its holdings in Imperial Oil by 4.8% in the fourth quarter. Scotia Capital Inc. now owns 240,695 shares of the energy company’s stock valued at $14,825,000 after purchasing an additional 11,004 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Imperial Oil in the fourth quarter valued at about $7,982,000. FMR LLC boosted its holdings in Imperial Oil by 16.9% in the fourth quarter. FMR LLC now owns 43,162,088 shares of the energy company’s stock valued at $2,659,965,000 after purchasing an additional 6,228,461 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Imperial Oil by 8.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 63,193 shares of the energy company’s stock valued at $3,893,000 after purchasing an additional 5,181 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wolfe Research raised Imperial Oil from a “peer perform” rating to an “outperform” rating in a report on Monday, April 21st. Scotiabank upgraded Imperial Oil to a “hold” rating in a research note on Wednesday, March 19th. Raymond James upgraded Imperial Oil from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 price target on shares of Imperial Oil in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group downgraded shares of Imperial Oil from a “neutral” rating to a “sell” rating in a report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $106.33.

Imperial Oil Stock Up 0.8 %

IMO stock opened at $69.45 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.23. Imperial Oil Limited has a 1-year low of $58.76 and a 1-year high of $80.17. The firm has a fifty day moving average price of $67.74 and a two-hundred day moving average price of $69.76. The firm has a market cap of $35.35 billion, a price-to-earnings ratio of 10.54 and a beta of 1.44.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were given a dividend of $0.4972 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.99 annualized dividend and a dividend yield of 2.86%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. Imperial Oil’s dividend payout ratio is currently 25.80%.

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.