CWA Asset Management Group LLC Takes Position in Imperial Oil Limited $IMO

CWA Asset Management Group LLC purchased a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,357 shares of the energy company’s stock, valued at approximately $1,757,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in Imperial Oil by 26.9% during the 3rd quarter. Allworth Financial LP now owns 2,256 shares of the energy company’s stock valued at $205,000 after purchasing an additional 478 shares during the period. Swiss Life Asset Management Ltd boosted its position in shares of Imperial Oil by 88.4% in the third quarter. Swiss Life Asset Management Ltd now owns 36,253 shares of the energy company’s stock worth $3,290,000 after buying an additional 17,011 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Imperial Oil by 22.4% during the third quarter. JPMorgan Chase & Co. now owns 1,067,657 shares of the energy company’s stock valued at $96,879,000 after buying an additional 195,730 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Imperial Oil by 761.8% during the third quarter. CIBC Private Wealth Group LLC now owns 2,120 shares of the energy company’s stock valued at $192,000 after buying an additional 1,874 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in Imperial Oil by 9.0% during the third quarter. NewEdge Advisors LLC now owns 13,154 shares of the energy company’s stock valued at $1,194,000 after buying an additional 1,083 shares during the period. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Trading Down 0.3%

NYSEAMERICAN IMO opened at $126.61 on Monday. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.18. Imperial Oil Limited has a 1-year low of $58.76 and a 1-year high of $129.84. The firm’s fifty day simple moving average is $112.51 and its 200-day simple moving average is $98.58. The company has a market capitalization of $61.23 billion, a PE ratio of 27.64 and a beta of 0.66.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 5th will be issued a $0.87 dividend. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Thursday, March 5th. Imperial Oil’s dividend payout ratio is currently 38.69%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IMO. Royal Bank Of Canada downgraded Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price objective for the company. in a research note on Monday, February 23rd. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research note on Monday, February 23rd. Raymond James Financial lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Monday, December 8th. Finally, BMO Capital Markets cut shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. Four analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and an average price target of $116.00.

Imperial Oil Profile

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.