Envestnet Asset Management Inc. Buys 5,181 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Envestnet Asset Management Inc. raised its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 8.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 63,193 shares of the energy company’s stock after purchasing an additional 5,181 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Imperial Oil were worth $3,893,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in IMO. Barclays PLC grew its stake in shares of Imperial Oil by 27.8% in the third quarter. Barclays PLC now owns 2,838 shares of the energy company’s stock worth $200,000 after purchasing an additional 617 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Imperial Oil during the third quarter valued at approximately $137,000. Tidal Investments LLC increased its stake in shares of Imperial Oil by 77.4% during the third quarter. Tidal Investments LLC now owns 7,474 shares of the energy company’s stock valued at $527,000 after buying an additional 3,261 shares during the period. Franklin Resources Inc. raised its holdings in shares of Imperial Oil by 0.9% during the third quarter. Franklin Resources Inc. now owns 191,647 shares of the energy company’s stock valued at $13,502,000 after acquiring an additional 1,619 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its stake in Imperial Oil by 30.6% in the fourth quarter. CWA Asset Management Group LLC now owns 17,579 shares of the energy company’s stock worth $1,083,000 after acquiring an additional 4,119 shares during the period. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Down 1.2 %

NYSEAMERICAN:IMO opened at $67.16 on Thursday. The firm has a market cap of $34.19 billion, a P/E ratio of 10.19 and a beta of 1.44. The firm has a 50-day simple moving average of $67.82 and a two-hundred day simple moving average of $69.76. Imperial Oil Limited has a fifty-two week low of $58.76 and a fifty-two week high of $80.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 5th were given a $0.4972 dividend. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.99 dividend on an annualized basis and a yield of 2.96%. Imperial Oil’s payout ratio is 25.80%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wolfe Research upgraded shares of Imperial Oil from a “peer perform” rating to an “outperform” rating in a report on Monday. The Goldman Sachs Group lowered Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $101.00 target price on shares of Imperial Oil in a research report on Thursday, April 3rd. Raymond James raised shares of Imperial Oil from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 9th. Finally, Scotiabank upgraded shares of Imperial Oil to a “hold” rating in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $106.33.

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.