NewEdge Wealth LLC Boosts Stock Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

NewEdge Wealth LLC lifted its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 46,424 shares of the energy company’s stock after purchasing an additional 819 shares during the period. NewEdge Wealth LLC’s holdings in Imperial Oil were worth $2,860,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in Imperial Oil in the third quarter worth about $28,000. Winch Advisory Services LLC purchased a new stake in Imperial Oil in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Imperial Oil in the fourth quarter worth about $41,000. Allworth Financial LP lifted its holdings in Imperial Oil by 21.0% in the third quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock worth $95,000 after buying an additional 234 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Imperial Oil in the third quarter worth about $137,000. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on IMO shares. Wolfe Research lowered shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. lowered shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $109.00.

Imperial Oil Stock Up 0.4 %

Shares of NYSEAMERICAN IMO opened at $67.84 on Friday. Imperial Oil Limited has a fifty-two week low of $60.95 and a fifty-two week high of $80.17. The company has a market cap of $34.53 billion, a price-to-earnings ratio of 10.29 and a beta of 1.44. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.4972 per share. This is an increase from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.99 dividend on an annualized basis and a dividend yield of 2.93%. Imperial Oil’s dividend payout ratio (DPR) is currently 25.80%.

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.