NewEdge Wealth LLC Grows Stock Position in Imperial Oil Limited $IMO

NewEdge Wealth LLC boosted its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,657 shares of the energy company’s stock after buying an additional 5,063 shares during the period. NewEdge Wealth LLC’s holdings in Imperial Oil were worth $6,465,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. IFG Advisory LLC lifted its stake in shares of Imperial Oil by 0.4% in the 2nd quarter. IFG Advisory LLC now owns 32,359 shares of the energy company’s stock worth $2,572,000 after acquiring an additional 136 shares during the period. Gold Investment Management Ltd. lifted its position in Imperial Oil by 0.6% in the third quarter. Gold Investment Management Ltd. now owns 28,322 shares of the energy company’s stock valued at $2,568,000 after purchasing an additional 161 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Imperial Oil by 0.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 21,470 shares of the energy company’s stock valued at $1,949,000 after purchasing an additional 166 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Imperial Oil by 64.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock worth $40,000 after purchasing an additional 169 shares during the period. Finally, NewEdge Advisors LLC increased its position in Imperial Oil by 1.5% during the 2nd quarter. NewEdge Advisors LLC now owns 12,071 shares of the energy company’s stock worth $959,000 after purchasing an additional 184 shares during the period. 20.74% of the stock is owned by institutional investors and hedge funds.

Imperial Oil Stock Performance

Shares of IMO opened at $122.55 on Friday. Imperial Oil Limited has a 12-month low of $58.76 and a 12-month high of $123.52. The stock has a market cap of $59.26 billion, a P/E ratio of 26.76 and a beta of 0.70. The company has a current ratio of 1.47, a quick ratio of 1.17 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $98.47 and a two-hundred day moving average of $93.40.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th will be paid a dividend of $0.87 per share. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. Imperial Oil’s dividend payout ratio is 31.26%.

Analyst Upgrades and Downgrades

IMO has been the subject of several recent analyst reports. Royal Bank Of Canada reissued a “sector perform” rating on shares of Imperial Oil in a report on Wednesday, November 5th. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a research report on Tuesday, November 4th. BMO Capital Markets lowered shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Finally, Raymond James Financial downgraded shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. Six equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $115.00.

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.