CWA Asset Management Group LLC Raises Stock Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

CWA Asset Management Group LLC lifted its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 30.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,579 shares of the energy company’s stock after acquiring an additional 4,119 shares during the period. CWA Asset Management Group LLC’s holdings in Imperial Oil were worth $1,083,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Principal Financial Group Inc. increased its holdings in shares of Imperial Oil by 29.6% in the second quarter. Principal Financial Group Inc. now owns 17,542 shares of the energy company’s stock valued at $1,196,000 after purchasing an additional 4,002 shares during the period. Caprock Group LLC acquired a new stake in shares of Imperial Oil in the 2nd quarter worth $530,000. Royal London Asset Management Ltd. boosted its holdings in shares of Imperial Oil by 710.5% in the second quarter. Royal London Asset Management Ltd. now owns 91,485 shares of the energy company’s stock valued at $6,244,000 after acquiring an additional 80,197 shares in the last quarter. SIR Capital Management L.P. acquired a new position in shares of Imperial Oil during the second quarter worth about $11,405,000. Finally, Jupiter Asset Management Ltd. purchased a new position in Imperial Oil during the second quarter worth about $40,729,000. 20.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Scotiabank restated a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $109.00.

Imperial Oil Stock Up 4.3 %

Shares of Imperial Oil stock opened at $65.83 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.23. Imperial Oil Limited has a twelve month low of $54.58 and a twelve month high of $80.17. The firm has a market cap of $33.74 billion, a P/E ratio of 9.81 and a beta of 1.42.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd were given a dividend of $0.4304 per share. This represents a $1.72 annualized dividend and a yield of 2.62%. The ex-dividend date was Tuesday, December 3rd. Imperial Oil’s dividend payout ratio (DPR) is presently 26.38%.

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.