Checchi Capital Advisers LLC Makes New $242,000 Investment in Imperial Oil Limited (NYSEAMERICAN:IMO)

Checchi Capital Advisers LLC bought a new position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,348 shares of the energy company's stock, valued at approximately $242,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp grew its position in shares of Imperial Oil by 3.5% in the 4th quarter. Bank of New York Mellon Corp now owns 243,304 shares of the energy company's stock valued at $14,988,000 after buying an additional 8,198 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Imperial Oil by 17.3% in the 4th quarter. Fisher Asset Management LLC now owns 4,673 shares of the energy company's stock valued at $288,000 after buying an additional 690 shares during the last quarter. US Bancorp DE grew its position in shares of Imperial Oil by 1.5% in the 4th quarter. US Bancorp DE now owns 20,408 shares of the energy company's stock valued at $1,257,000 after buying an additional 296 shares during the last quarter. Atria Investments Inc grew its position in shares of Imperial Oil by 28.1% in the 4th quarter. Atria Investments Inc now owns 4,141 shares of the energy company's stock valued at $255,000 after buying an additional 909 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Imperial Oil in the 4th quarter valued at about $7,982,000. Institutional investors and hedge funds own 20.74% of the company's stock.

Analyst Upgrades and Downgrades

IMO has been the topic of a number of recent analyst reports. The Goldman Sachs Group downgraded Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th. Wolfe Research raised Imperial Oil from a "peer perform" rating to an "outperform" rating in a research note on Monday, April 21st. Raymond James Financial downgraded Imperial Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday. Royal Bank Of Canada reissued a "sector perform" rating and issued a $101.00 price objective on shares of Imperial Oil in a research note on Thursday, April 3rd. Finally, Scotiabank raised Imperial Oil to a "hold" rating in a research note on Wednesday, March 19th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $106.33.

Imperial Oil Stock Performance

Shares of Imperial Oil stock opened at $81.43 on Friday. The company has a market cap of $41.45 billion, a PE ratio of 12.17 and a beta of 0.89. The company has a quick ratio of 1.22, a current ratio of 1.48 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $74.59 and a 200-day moving average price of $70.41. Imperial Oil Limited has a 52 week low of $58.76 and a 52 week high of $82.85.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 4th were issued a $0.523 dividend. The ex-dividend date was Wednesday, June 4th. This is a positive change from Imperial Oil's previous quarterly dividend of $0.50. This represents a $2.09 annualized dividend and a dividend yield of 2.57%. Imperial Oil's dividend payout ratio is currently 31.87%.

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.

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