Imperial Oil Limited $IMO Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC raised its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,971 shares of the energy company’s stock after acquiring an additional 184 shares during the quarter. Ballentine Partners LLC’s holdings in Imperial Oil were worth $316,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of IMO. TD Asset Management Inc grew its stake in Imperial Oil by 1.0% in the first quarter. TD Asset Management Inc now owns 4,873,843 shares of the energy company’s stock worth $352,014,000 after purchasing an additional 47,898 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Imperial Oil by 395.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,546,520 shares of the energy company’s stock worth $328,804,000 after buying an additional 3,629,568 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Imperial Oil by 54.7% in the 1st quarter. Mackenzie Financial Corp now owns 690,024 shares of the energy company’s stock worth $49,842,000 after acquiring an additional 243,894 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Imperial Oil by 273.2% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 658,949 shares of the energy company’s stock worth $47,607,000 after acquiring an additional 482,393 shares in the last quarter. Finally, Amundi increased its holdings in shares of Imperial Oil by 0.5% in the 1st quarter. Amundi now owns 617,706 shares of the energy company’s stock valued at $42,368,000 after acquiring an additional 3,275 shares during the last quarter. Institutional investors own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IMO shares. BMO Capital Markets restated an “outperform” rating on shares of Imperial Oil in a research note on Monday, August 4th. Zacks Research raised shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Raymond James Financial lowered shares of Imperial Oil from a “moderate buy” rating to a “hold” rating in a report on Thursday, July 3rd. Desjardins lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 3rd. Finally, Wolfe Research cut shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Imperial Oil currently has a consensus rating of “Hold” and a consensus price target of $115.00.

Imperial Oil Price Performance

Shares of NYSEAMERICAN:IMO opened at $93.26 on Monday. The firm’s 50 day moving average is $87.57 and its two-hundred day moving average is $77.90. The firm has a market capitalization of $46.81 billion, a P/E ratio of 14.37 and a beta of 0.94. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. Imperial Oil Limited has a 52 week low of $58.76 and a 52 week high of $96.09.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, September 4th. Imperial Oil’s dividend payout ratio is 31.87%.

Imperial Oil 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.