Wells Fargo & Company MN Acquires 653 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Wells Fargo & Company MN grew its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,630 shares of the energy company’s stock after acquiring an additional 653 shares during the quarter. Wells Fargo & Company MN’s holdings in Imperial Oil were worth $593,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Winch Advisory Services LLC bought a new position in Imperial Oil during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Imperial Oil in the 4th quarter valued at approximately $41,000. Allworth Financial LP raised its position in Imperial Oil by 21.0% in the 4th quarter. Allworth Financial LP now owns 1,630 shares of the energy company’s stock valued at $100,000 after buying an additional 283 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Imperial Oil in the 3rd quarter valued at approximately $137,000. Finally, Quantbot Technologies LP acquired a new position in Imperial Oil during the 4th quarter worth approximately $193,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Stock Performance

Shares of IMO stock opened at $68.78 on Friday. The company has a market capitalization of $35.01 billion, a price-to-earnings ratio of 10.44 and a beta of 1.44. 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 Limited has a 52 week low of $58.76 and a 52 week high of $80.17. The company has a 50-day simple moving average of $67.57 and a 200 day simple moving average of $69.74.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.4972 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.99 dividend on an annualized basis and a dividend yield of 2.89%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43. Imperial Oil’s dividend payout ratio (DPR) is 25.80%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IMO shares. Raymond James raised shares of Imperial Oil from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 9th. Royal Bank of Canada restated a “sector perform” rating and set a $101.00 target price on shares of Imperial Oil in a report on Thursday, April 3rd. Scotiabank raised shares of Imperial Oil to a “hold” rating in a research report on Wednesday, March 19th. Wolfe Research raised shares of Imperial Oil from a “peer perform” rating to an “outperform” rating in a report on Monday, April 21st. Finally, The Goldman Sachs Group cut Imperial Oil from a “neutral” rating to a “sell” rating in a report on Thursday, March 27th. 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 stock. According to MarketBeat.com, Imperial Oil currently has a consensus rating of “Hold” and a consensus target price of $106.33.

Imperial Oil Company 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.