2,967 Shares in Imperial Oil Limited $IMO Acquired by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC acquired a new stake in Imperial Oil Limited worth approximately $215,000 by purchasing 2,967 shares during the 1st quarter.
• Analysts have varied opinions on the stock, with ratings ranging from "strong sell" to "outperform," leading to an average target price of $105.50.
• Imperial Oil recently increased its quarterly dividend from $0.52 to $0.72, resulting in an annualized yield of 3.3% for investors.

HighTower Advisors LLC bought a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,967 shares of the energy company's stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. TD Asset Management Inc lifted its holdings in Imperial Oil by 1.0% during the 1st quarter. TD Asset Management Inc now owns 4,873,843 shares of the energy company's stock valued at $352,014,000 after buying an additional 47,898 shares in the last quarter. Bank of America Corp DE lifted its holdings in Imperial Oil by 1.1% during the 4th quarter. Bank of America Corp DE now owns 2,398,899 shares of the energy company's stock valued at $147,772,000 after buying an additional 26,891 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Imperial Oil by 54.7% during the 1st quarter. Mackenzie Financial Corp now owns 690,024 shares of the energy company's stock valued at $49,842,000 after buying an additional 243,894 shares in the last quarter. Bank of Nova Scotia lifted its holdings in Imperial Oil by 0.7% during the 1st quarter. Bank of Nova Scotia now owns 574,221 shares of the energy company's stock valued at $41,485,000 after buying an additional 3,773 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Imperial Oil by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 534,265 shares of the energy company's stock valued at $38,588,000 after buying an additional 11,543 shares in the last quarter. Institutional investors own 20.74% of the company's stock.

Imperial Oil Stock Down 0.2%

Shares of NYSEAMERICAN:IMO traded down $0.19 during trading hours on Friday, hitting $87.28. The company's stock had a trading volume of 388,357 shares, compared to its average volume of 348,415. The firm's fifty day moving average price is $84.23 and its 200 day moving average price is $75.11. Imperial Oil Limited has a 52 week low of $58.76 and a 52 week high of $91.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.34. The company has a market capitalization of $44.22 billion, a price-to-earnings ratio of 13.45 and a beta of 0.94.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Thursday, September 4th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.3%. This is a boost from Imperial Oil's previous quarterly dividend of $0.52. The ex-dividend date is Thursday, September 4th. Imperial Oil's payout ratio is presently 31.56%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IMO shares. Tudor Pickering lowered shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Zacks Research upgraded Imperial Oil from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Desjardins lowered Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. Wolfe Research lowered Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 23rd. Finally, Raymond James Financial lowered shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average 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.