Envestnet Asset Management Inc. Acquires 10,299 Shares of Imperial Oil Limited $IMO

Envestnet Asset Management Inc. increased its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 13.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,287 shares of the energy company’s stock after purchasing an additional 10,299 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Imperial Oil were worth $7,648,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. boosted its position in Imperial Oil by 32.0% during the 2nd quarter. Bessemer Group Inc. now owns 31,278 shares of the energy company’s stock valued at $2,482,000 after buying an additional 7,588 shares during the period. Scotia Capital Inc. raised its stake in shares of Imperial Oil by 3.5% during the second quarter. Scotia Capital Inc. now owns 233,736 shares of the energy company’s stock valued at $18,456,000 after acquiring an additional 7,940 shares during the last quarter. Vise Technologies Inc. purchased a new stake in shares of Imperial Oil during the second quarter worth about $1,235,000. Westerkirk Capital Inc. bought a new stake in shares of Imperial Oil in the second quarter worth about $852,000. Finally, Fiera Capital Corp increased its holdings in Imperial Oil by 1,294.3% during the 2nd quarter. Fiera Capital Corp now owns 304,811 shares of the energy company’s stock valued at $24,220,000 after purchasing an additional 282,949 shares during the period. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Stock Performance

Shares of Imperial Oil stock opened at $120.69 on Friday. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $123.52. The firm has a market capitalization of $58.36 billion, a P/E ratio of 26.35 and a beta of 0.70. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $99.04 and a two-hundred day simple moving average of $93.65.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date is Thursday, March 5th. Imperial Oil’s dividend payout ratio is currently 31.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Imperial Oil in a report on Wednesday, November 5th. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research note on Tuesday, November 4th. BMO Capital Markets lowered shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. Finally, Raymond James Financial cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Monday, December 8th. Six equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Imperial Oil currently has a consensus rating of “Reduce” and a consensus target price of $115.00.

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.