Belpointe Asset Management LLC Makes New Investment in Imperial Oil Limited $IMO

Key Points

• Belpointe Asset Management LLC invested approximately $429,000 in Imperial Oil Limited, acquiring 5,398 shares during the second quarter, highlighting increasing institutional interest in the company.
• Imperial Oil recently raised its quarterly dividend from $0.52 to $0.72, representing an annualized yield of 3.3%, with a payout ratio of 31.87%.
• Analysts have mixed views on the stock, with Royal Bank of Canada raising its price target to $115.00 while Zacks Research downgraded the stock to a "hold," reflecting diverse outlooks on Imperial Oil's performance.

Belpointe Asset Management LLC bought a new position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,398 shares of the energy company's stock, valued at approximately $429,000.

Other hedge funds have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new stake in Imperial Oil in the first quarter worth $26,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Imperial Oil by 88.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company's stock worth $39,000 after acquiring an additional 255 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Imperial Oil by 7,136.4% in the first quarter. GAMMA Investing LLC now owns 796 shares of the energy company's stock worth $580,000 after acquiring an additional 785 shares in the last quarter. Continuum Advisory LLC bought a new stake in Imperial Oil in the first quarter worth $71,000. Finally, Banque Transatlantique SA bought a new stake in Imperial Oil in the first quarter worth $87,000. 20.74% of the stock is owned by institutional investors.

Imperial Oil Stock Down 1.2%

Imperial Oil stock opened at $87.07 on Friday. The stock has a market cap of $43.70 billion, a PE ratio of 13.42 and a beta of 0.83. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.58. Imperial Oil Limited has a one year low of $58.76 and a one year high of $96.09. The stock has a fifty day moving average of $88.76 and a 200 day moving average of $79.13.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Thursday, September 4th were given a $0.72 dividend. The ex-dividend date was Thursday, September 4th. This is a positive change from Imperial Oil's previous quarterly dividend of $0.52. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. Imperial Oil's dividend payout ratio (DPR) is currently 31.87%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IMO shares. Royal Bank Of Canada upped their price target on Imperial Oil from $108.00 to $115.00 and gave the company a "sector perform" rating in a report on Thursday, September 25th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Imperial Oil in a report on Monday, August 4th. Zacks Research downgraded Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, October 3rd. Raymond James Financial downgraded Imperial Oil from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 3rd. Finally, Tudor Pickering downgraded Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $115.00.

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.

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