Total Wealth Planning & Management Inc. Acquires New Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Total Wealth Planning & Management Inc. acquired a new stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,067 shares of the energy company's stock, valued at approximately $1,051,000. Imperial Oil comprises about 1.0% of Total Wealth Planning & Management Inc.'s portfolio, making the stock its 19th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its position in Imperial Oil by 16.9% during the 4th quarter. FMR LLC now owns 43,162,088 shares of the energy company's stock valued at $2,659,965,000 after purchasing an additional 6,228,461 shares during the period. TD Asset Management Inc. increased its position in shares of Imperial Oil by 2.2% during the fourth quarter. TD Asset Management Inc. now owns 4,825,945 shares of the energy company's stock valued at $297,268,000 after buying an additional 105,970 shares during the period. Bank of America Corp DE raised its stake in Imperial Oil by 1.1% in the fourth quarter. Bank of America Corp DE now owns 2,398,899 shares of the energy company's stock worth $147,772,000 after buying an additional 26,891 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Imperial Oil by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 1,086,840 shares of the energy company's stock worth $67,634,000 after buying an additional 244,176 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Imperial Oil by 29.0% in the fourth quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company's stock worth $58,212,000 after buying an additional 212,707 shares during the period. 20.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on IMO. The Goldman Sachs Group downgraded Imperial Oil from a "neutral" rating to a "sell" rating in a report on Thursday, March 27th. Scotiabank upgraded Imperial Oil to a "hold" rating in a research report on Wednesday, March 19th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $101.00 price objective on shares of Imperial Oil in a report on Thursday, April 3rd. Raymond James reissued an "outperform" rating on shares of Imperial Oil in a research report on Monday, May 5th. Finally, Wolfe Research raised shares of Imperial Oil from a "peer perform" rating to an "outperform" rating in a research report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $106.33.

Imperial Oil Stock Down 1.3%

Shares of Imperial Oil stock traded down $0.91 on Friday, reaching $70.91. The company's stock had a trading volume of 375,880 shares, compared to its average volume of 451,444. Imperial Oil Limited has a 52 week low of $58.76 and a 52 week high of $80.17. The firm's fifty day simple moving average is $68.41 and its two-hundred day simple moving average is $69.94. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $36.10 billion, a price-to-earnings ratio of 10.76 and a beta of 1.44.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.523 per share. The ex-dividend date is Wednesday, June 4th. This is a positive change from Imperial Oil's previous quarterly dividend of $0.50. This represents a $2.09 dividend on an annualized basis and a yield of 2.95%. Imperial Oil's payout ratio is currently 25.80%.

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.