Ritholtz Wealth Management Boosts Stock Position in Imperial Oil Limited $IMO

Ritholtz Wealth Management raised its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,943 shares of the energy company’s stock after buying an additional 1,696 shares during the quarter. Ritholtz Wealth Management’s holdings in Imperial Oil were worth $5,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Morningstar Investment Management LLC purchased a new stake in shares of Imperial Oil in the 2nd quarter worth about $612,000. Vanguard Personalized Indexing Management LLC boosted its position in Imperial Oil by 12.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,304 shares of the energy company’s stock valued at $1,693,000 after acquiring an additional 2,410 shares in the last quarter. PDS Planning Inc bought a new position in shares of Imperial Oil in the 2nd quarter worth approximately $237,000. Blue Trust Inc. lifted its stake in shares of Imperial Oil by 10.8% in the 2nd quarter. Blue Trust Inc. now owns 13,622 shares of the energy company’s stock valued at $1,083,000 after purchasing an additional 1,327 shares during the period. Finally, Callan Family Office LLC purchased a new stake in Imperial Oil in the second quarter worth $538,000. Institutional investors own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on IMO shares. TD Securities lowered shares of Imperial Oil from a “hold” rating to a “sell” rating in a research note on Tuesday, September 30th. Royal Bank Of Canada raised their target price on shares of Imperial Oil from $108.00 to $115.00 and gave the company a “sector perform” rating in a research note on Thursday, September 25th. Zacks Research lowered shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 23rd. Finally, Raymond James Financial lowered Imperial Oil from a “moderate buy” rating to a “hold” rating in a research report on Thursday, July 3rd. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $115.00.

Imperial Oil Price Performance

Shares of IMO opened at $87.81 on Wednesday. Imperial Oil Limited has a twelve month low of $58.76 and a twelve month high of $96.09. The company has a market capitalization of $44.07 billion, a P/E ratio of 13.53 and a beta of 0.83. The firm has a 50 day moving average of $88.90 and a 200 day moving average of $79.40. The company has a quick ratio of 1.34, a current ratio of 1.58 and a debt-to-equity ratio of 0.16.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Thursday, September 4th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.3%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, September 4th. Imperial Oil’s 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.