Purpose Unlimited Inc. Acquires New Stake in Imperial Oil Limited $IMO

Purpose Unlimited Inc. acquired a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,598 shares of the energy company’s stock, valued at approximately $1,002,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC boosted its stake in shares of Imperial Oil by 87.8% during the 4th quarter. Root Financial Partners LLC now owns 293 shares of the energy company’s stock worth $25,000 after purchasing an additional 137 shares during the last quarter. McMillan Office Inc. acquired a new position in shares of Imperial Oil in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its stake in shares of Imperial Oil by 23.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 531 shares of the energy company’s stock valued at $46,000 after buying an additional 101 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Imperial Oil by 737.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company’s stock valued at $46,000 after buying an additional 450 shares during the period. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Imperial Oil during the third quarter worth approximately $54,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Wall Street Analyst Weigh In

IMO has been the subject of several recent analyst reports. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research note on Wednesday, May 13th. Zacks Research lowered Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, Royal Bank Of Canada cut Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price objective on the stock. in a report on Monday, February 23rd. Four equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $116.00.

Imperial Oil Price Performance

IMO opened at $112.55 on Friday. Imperial Oil Limited has a 52-week low of $77.20 and a 52-week high of $139.44. The company has a 50 day moving average of $126.22 and a two-hundred day moving average of $113.91. The company has a market cap of $54.43 billion, a P/E ratio of 26.54 and a beta of 0.43. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.

Imperial Oil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 4th will be issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 3.1%. The ex-dividend date is Thursday, June 4th. Imperial Oil’s dividend payout ratio is currently 38.24%.

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.