Baron Wealth Management LLC Makes New Investment in Imperial Oil Limited $IMO

Key Points

• Baron Wealth Management LLC acquired a new stake in Imperial Oil Limited valued at approximately $293,000, purchasing 3,682 shares in the second quarter.
• Imperial Oil recently declared a quarterly dividend of $0.72 per share, which is an increase from the previous dividend of $0.52, with a current yield of 3.0%.
• Analyst ratings for Imperial Oil are mixed, with one strong buy rating, one buy rating, five hold ratings, and three sell ratings, resulting in a consensus rating of hold.

Baron Wealth Management LLC acquired a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,682 shares of the energy company's stock, valued at approximately $293,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Captrust Financial Advisors bought a new position in shares of Imperial Oil during the fourth quarter worth approximately $246,000. Group One Trading LLC grew its position in Imperial Oil by 29.7% during the fourth quarter. Group One Trading LLC now owns 755 shares of the energy company's stock worth $47,000 after buying an additional 173 shares in the last quarter. Twinbeech Capital LP acquired a new stake in Imperial Oil during the fourth quarter worth approximately $845,000. Voloridge Investment Management LLC grew its position in Imperial Oil by 20.1% during the fourth quarter. Voloridge Investment Management LLC now owns 389,248 shares of the energy company's stock worth $23,978,000 after buying an additional 65,011 shares in the last quarter. Finally, USS Investment Management Ltd acquired a new stake in Imperial Oil during the fourth quarter worth approximately $3,152,000. Institutional investors own 20.74% of the company's stock.

Imperial Oil Stock Down 2.3%

Imperial Oil stock traded down $2.13 during midday trading on Friday, reaching $91.83. The stock had a trading volume of 714,671 shares, compared to its average volume of 382,074. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $96.09. The company has a market capitalization of $46.09 billion, a P/E ratio of 14.15 and a beta of 0.94. The company has a fifty day moving average price of $86.46 and a two-hundred day moving average price of $76.80. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 4th will be paid a $0.72 dividend. The ex-dividend date is Thursday, September 4th. This is a positive change from Imperial Oil's previous quarterly dividend of $0.52. This represents a $2.88 annualized dividend and a yield of 3.1%. Imperial Oil's dividend payout ratio (DPR) is currently 31.56%.

Wall Street Analyst Weigh In

IMO has been the subject of several recent analyst reports. Desjardins downgraded Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Zacks Research raised Imperial Oil from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. BMO Capital Markets reissued an "outperform" rating on shares of Imperial Oil in a report on Monday, August 4th. Wolfe Research downgraded Imperial Oil from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 23rd. Finally, Tudor Pickering lowered Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Imperial Oil presently has a consensus rating of "Hold" and a consensus price target of $105.50.

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.