Baron Wealth Management LLC Acquires New Holdings 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 shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,682 shares of the energy company's stock, valued at approximately $293,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IMO. Captrust Financial Advisors bought a new position in shares of Imperial Oil during the fourth quarter worth $246,000. Group One Trading LLC raised its stake in Imperial Oil by 29.7% during the 4th quarter. Group One Trading LLC now owns 755 shares of the energy company's stock worth $47,000 after buying an additional 173 shares during the period. Twinbeech Capital LP bought a new stake in shares of Imperial Oil in the fourth quarter worth about $845,000. Voloridge Investment Management LLC increased its holdings in shares of Imperial Oil by 20.1% in the fourth quarter. Voloridge Investment Management LLC now owns 389,248 shares of the energy company's stock worth $23,978,000 after acquiring an additional 65,011 shares in the last quarter. Finally, USS Investment Management Ltd bought a new stake in shares of Imperial Oil in the fourth quarter worth about $3,152,000. 20.74% of the stock is owned by institutional investors.

Imperial Oil Stock Down 0.7%

Shares of IMO stock opened at $94.50 on Thursday. 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 1 year low of $58.76 and a 1 year high of $96.09. The firm's fifty day moving average price is $86.01 and its two-hundred day moving average price is $76.42. The firm has a market capitalization of $47.43 billion, a P/E ratio of 14.56 and a beta of 0.94.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 4th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.0%. This is a boost from Imperial Oil's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, September 4th. Imperial Oil's payout ratio is currently 31.56%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IMO. BMO Capital Markets reissued an "outperform" rating on shares of Imperial Oil in a research note on Monday, August 4th. Zacks Research upgraded shares of Imperial Oil from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. Wolfe Research cut shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, July 23rd. Raymond James Financial cut shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Finally, Desjardins downgraded Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $105.50.

About Imperial Oil

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.

Want to see what other hedge funds are holding IMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.