Envestnet Asset Management Inc. Boosts Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Envestnet Asset Management Inc. increased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) by 7.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,047 shares of the energy company’s stock after buying an additional 2,833 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Imperial Oil were worth $2,049,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SNC purchased a new stake in shares of Imperial Oil in the third quarter valued at about $35,000. Baldwin Brothers LLC MA purchased a new stake in shares of Imperial Oil in the fourth quarter valued at about $44,000. CWM LLC boosted its holdings in shares of Imperial Oil by 93.3% in the fourth quarter. CWM LLC now owns 978 shares of the energy company’s stock valued at $48,000 after acquiring an additional 472 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Imperial Oil by 1,250.8% in the third quarter. EverSource Wealth Advisors LLC now owns 2,553 shares of the energy company’s stock valued at $111,000 after buying an additional 2,364 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Imperial Oil by 12.6% in the third quarter. Signaturefd LLC now owns 3,874 shares of the energy company’s stock valued at $168,000 after buying an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 20.18% of the company’s stock.

Imperial Oil Trading Up 0.7 %

Shares of Imperial Oil stock opened at $46.86 on Friday. Imperial Oil Limited has a fifty-two week low of $39.95 and a fifty-two week high of $58.99. The firm has a market cap of $27.37 billion, a PE ratio of 5.32, a P/E/G ratio of 0.32 and a beta of 1.54. The business’s fifty day moving average is $50.59 and its two-hundred day moving average is $50.69. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.

Imperial Oil (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) last announced its quarterly earnings data on Friday, April 28th. The energy company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.13. The business had revenue of $8.96 billion for the quarter, compared to analyst estimates of $11.38 billion. Imperial Oil had a net margin of 12.30% and a return on equity of 31.73%. Analysts anticipate that Imperial Oil Limited will post 5.73 earnings per share for the current year.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Friday, June 2nd will be issued a $0.3674 dividend. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $1.47 annualized dividend and a yield of 3.14%. Imperial Oil’s dividend payout ratio (DPR) is presently 14.64%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IMO shares. StockNews.com downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. Royal Bank of Canada downgraded shares of Imperial Oil from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $82.00 to $78.00 in a report on Wednesday, April 12th. Scotiabank raised Imperial Oil from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, March 21st. Finally, Raymond James lifted their price target on Imperial Oil from C$70.00 to C$74.00 in a research note on Wednesday, February 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $79.00.

About Imperial Oil

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Imperial Oil Ltd. engages in the exploration, production, and sale of crude oil and natural gas. It operates through the following business segments: Upstream, Downstream, Chemical, and Corporate and Other. The Upstream segment includes the exploration and production of crude oil, natural gas, synthetic oil, and bitumen.