NewEdge Wealth LLC Raises Stock Holdings in Imperial Oil Limited $IMO

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

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

Analyst Ratings Changes

Several research analysts have weighed in on IMO shares. Zacks Research raised shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Scotiabank reaffirmed a “sector perform” rating on shares of Imperial Oil in a research report on Friday, July 17th. Imperial Capital reiterated a “sell” rating on shares of Imperial Oil in a research note on Tuesday, June 23rd. Desjardins raised Imperial Oil to a “hold” rating in a report on Thursday, July 16th. Finally, TD Securities restated a “sell” rating on shares of Imperial Oil in a research note on Wednesday, May 13th. 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 company. According to MarketBeat, Imperial Oil has a consensus rating of “Reduce” and a consensus target price of $116.00.

Imperial Oil Price Performance

Shares of NYSEAMERICAN IMO opened at $125.68 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 1.02. Imperial Oil Limited has a 1-year low of $81.87 and a 1-year high of $139.44. The business’s fifty day moving average price is $121.56 and its two-hundred day moving average price is $118.72. The firm has a market capitalization of $60.78 billion, a PE ratio of 29.64 and a beta of 0.45.

Imperial Oil Announces Dividend

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

Imperial Oil 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.