Capital Wealth Planning LLC Acquires Shares of 91,692 Imperial Oil Limited $IMO

Capital Wealth Planning LLC acquired a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 91,692 shares of the energy company’s stock, valued at approximately $8,320,000.

Other hedge funds have also recently modified their holdings of the company. Vise Technologies Inc. lifted its holdings in Imperial Oil by 1.3% in the third quarter. Vise Technologies Inc. now owns 15,742 shares of the energy company’s stock valued at $1,428,000 after acquiring an additional 207 shares during the period. KLCM Advisors Inc. acquired a new stake in shares of Imperial Oil during the 3rd quarter worth approximately $206,000. UBS Group AG grew its stake in shares of Imperial Oil by 566.9% during the 3rd quarter. UBS Group AG now owns 1,406,624 shares of the energy company’s stock worth $127,637,000 after purchasing an additional 1,195,698 shares during the period. Barometer Capital Management Inc. increased its holdings in shares of Imperial Oil by 15.7% during the 3rd quarter. Barometer Capital Management Inc. now owns 125,892 shares of the energy company’s stock valued at $11,423,000 after purchasing an additional 17,052 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Imperial Oil by 58.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 110,590 shares of the energy company’s stock valued at $10,035,000 after purchasing an additional 40,685 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

Shares of Imperial Oil stock opened at $120.41 on Friday. The business has a 50 day simple moving average of $108.80 and a two-hundred day simple moving average of $97.21. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $123.52. The stock has a market capitalization of $58.23 billion, a P/E ratio of 26.29 and a beta of 0.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.27 and a quick ratio of 0.94.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 5th will be paid a $0.87 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.48 annualized dividend and a yield of 2.9%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. Imperial Oil’s dividend payout ratio is currently 38.69%.

Wall Street Analysts Forecast Growth

IMO has been the topic of a number of recent analyst reports. Royal Bank Of Canada downgraded shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price target on the stock. in a report on Monday, February 23rd. Raymond James Financial cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. BMO Capital Markets downgraded shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Finally, TD Securities reissued a “sell” rating on shares of Imperial Oil in a research note on Monday, February 23rd. Five research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, Imperial Oil has a consensus rating of “Strong Sell” and an average target price of $116.00.

About Imperial Oil

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.