Morningstar Investment Management LLC Invests $612,000 in Imperial Oil Limited $IMO

Morningstar Investment Management LLC acquired a new position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,706 shares of the energy company’s stock, valued at approximately $612,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Gold Investment Management Ltd. lifted its stake in shares of Imperial Oil by 0.6% in the first quarter. Gold Investment Management Ltd. now owns 28,082 shares of the energy company’s stock worth $2,029,000 after acquiring an additional 178 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of Imperial Oil by 4.9% in the second quarter. Ballentine Partners LLC now owns 3,971 shares of the energy company’s stock worth $316,000 after acquiring an additional 184 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Imperial Oil by 88.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company’s stock valued at $39,000 after purchasing an additional 255 shares in the last quarter. Stephens Inc. AR raised its position in shares of Imperial Oil by 2.0% in the 1st quarter. Stephens Inc. AR now owns 14,861 shares of the energy company’s stock valued at $1,075,000 after purchasing an additional 290 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Imperial Oil by 3.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,269 shares of the energy company’s stock valued at $836,000 after purchasing an additional 337 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Tudor Pickering cut shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Wolfe Research lowered shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 23rd. BMO Capital Markets restated an “outperform” rating on shares of Imperial Oil in a research note on Monday, August 4th. TD Securities cut Imperial Oil from a “hold” rating to a “sell” rating in a research note on Tuesday, September 30th. Finally, Royal Bank Of Canada increased their price objective on shares of Imperial Oil from $108.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 25th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $115.00.

Imperial Oil Stock Up 1.4%

IMO opened at $88.25 on Tuesday. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $96.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.34. The stock has a market cap of $44.30 billion, a P/E ratio of 13.60 and a beta of 0.83. The stock’s 50 day moving average price is $88.84 and its 200 day moving average price is $79.34.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Thursday, September 4th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Thursday, September 4th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.52. Imperial Oil’s dividend payout ratio is 31.87%.

Imperial Oil 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.