Callan Family Office LLC Purchases Shares of 6,766 Imperial Oil Limited $IMO

Key Points

• Callan Family Office LLC has acquired 6,766 shares of Imperial Oil Limited, valued at approximately $538,000, marking a new stake for the institutional investor.
• Imperial Oil recently increased its quarterly dividend from $0.52 to $0.72, resulting in an annualized payout of $2.88 and a dividend yield of 3.3%.
• Several institutional investors, including Goldman Sachs and TD Asset Management, have significantly adjusted their positions in Imperial Oil, with varying impacts on their holdings.

Callan Family Office LLC purchased 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 disclosure with the SEC. The institutional investor purchased 6,766 shares of the energy company's stock, valued at approximately $538,000.

Several other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc raised its position in shares of Imperial Oil by 1.0% in the 1st quarter. TD Asset Management Inc now owns 4,873,843 shares of the energy company's stock worth $352,014,000 after acquiring an additional 47,898 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Imperial Oil by 395.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,546,520 shares of the energy company's stock worth $328,804,000 after buying an additional 3,629,568 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Imperial Oil by 54.7% in the 1st quarter. Mackenzie Financial Corp now owns 690,024 shares of the energy company's stock worth $49,842,000 after buying an additional 243,894 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Imperial Oil by 273.2% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 658,949 shares of the energy company's stock worth $47,607,000 after buying an additional 482,393 shares during the last quarter. Finally, Amundi grew its stake in shares of Imperial Oil by 0.5% in the 1st quarter. Amundi now owns 617,706 shares of the energy company's stock worth $42,368,000 after buying an additional 3,275 shares during the last quarter. Institutional investors own 20.74% of the company's stock.

Imperial Oil Stock Down 0.5%

Shares of NYSEAMERICAN:IMO opened at $87.81 on Wednesday. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $96.09. The business has a 50 day simple moving average of $88.90 and a two-hundred day simple moving average of $79.40. The firm has a market capitalization of $44.07 billion, a PE ratio of 13.53 and a beta of 0.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.34.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Thursday, September 4th were issued 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 dividend yield of 3.3%. Imperial Oil's dividend payout ratio (DPR) is presently 31.87%.

Analyst Upgrades and Downgrades

IMO has been the topic of several recent research reports. TD Securities downgraded Imperial Oil from a "hold" rating to a "sell" rating in a research note on Tuesday, September 30th. Tudor Pickering downgraded Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Royal Bank Of Canada upped their price target on Imperial Oil from $108.00 to $115.00 and gave the stock a "sector perform" rating in a research note on Thursday, September 25th. BMO Capital Markets restated an "outperform" rating on shares of Imperial Oil in a research note on Monday, August 4th. Finally, Zacks Research downgraded Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus 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.

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.