Total Wealth Planning & Management Inc. Cuts Stock Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Total Wealth Planning & Management Inc. trimmed its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 71.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,838 shares of the energy company's stock after selling 12,229 shares during the period. Total Wealth Planning & Management Inc.'s holdings in Imperial Oil were worth $350,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IMO. Bank of New York Mellon Corp raised its stake in shares of Imperial Oil by 3.5% during the 4th quarter. Bank of New York Mellon Corp now owns 243,304 shares of the energy company's stock worth $14,988,000 after purchasing an additional 8,198 shares during the period. NewEdge Wealth LLC raised its stake in shares of Imperial Oil by 1.8% in the fourth quarter. NewEdge Wealth LLC now owns 46,424 shares of the energy company's stock valued at $2,860,000 after buying an additional 819 shares during the period. Fielder Capital Group LLC raised its stake in shares of Imperial Oil by 9.3% in the fourth quarter. Fielder Capital Group LLC now owns 7,845 shares of the energy company's stock valued at $483,000 after buying an additional 669 shares during the period. Fisher Asset Management LLC raised its stake in shares of Imperial Oil by 17.3% in the fourth 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 period. Finally, US Bancorp DE raised its stake in shares of Imperial Oil by 1.5% in the fourth 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 period. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Stock Up 0.2%

Shares of NYSEAMERICAN:IMO traded up $0.13 during trading on Monday, hitting $79.48. The stock had a trading volume of 261,726 shares, compared to its average volume of 455,329. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $82.85. The company has a market capitalization of $40.46 billion, a PE ratio of 11.88 and a beta of 0.87. The firm's fifty day moving average is $73.55 and its 200 day moving average is $70.28. The company has a quick ratio of 1.22, a current ratio of 1.48 and a debt-to-equity ratio of 0.16.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 4th will be given a $0.523 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $2.09 annualized dividend and a dividend yield of 2.63%. This is a positive change from Imperial Oil's previous quarterly dividend of $0.50. Imperial Oil's dividend payout ratio is currently 31.87%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IMO shares. Raymond James Financial reiterated an "outperform" rating on shares of Imperial Oil in a research note on Monday, May 5th. Scotiabank upgraded Imperial Oil to a "hold" rating in a research note on Wednesday, March 19th. Royal Bank Of Canada restated a "sector perform" rating and set a $101.00 target price on shares of Imperial Oil in a research report on Thursday, April 3rd. Desjardins cut Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Finally, Wolfe Research upgraded Imperial Oil from a "peer perform" rating to an "outperform" rating in a research report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $106.33.

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.