Ritholtz Wealth Management Raises Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Ritholtz Wealth Management increased its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 13.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,247 shares of the energy company's stock after acquiring an additional 7,958 shares during the period. Ritholtz Wealth Management's holdings in Imperial Oil were worth $4,719,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IMO. Blue Trust Inc. boosted its position in Imperial Oil by 7.3% during the 4th quarter. Blue Trust Inc. now owns 10,468 shares of the energy company's stock worth $645,000 after acquiring an additional 712 shares during the last quarter. Allworth Financial LP lifted its position in shares of Imperial Oil by 21.0% in the fourth quarter. Allworth Financial LP now owns 1,630 shares of the energy company's stock worth $100,000 after purchasing an additional 283 shares in the last quarter. J. W. Coons Advisors LLC boosted its holdings in Imperial Oil by 2.7% during the fourth quarter. J. W. Coons Advisors LLC now owns 12,369 shares of the energy company's stock worth $762,000 after purchasing an additional 320 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Imperial Oil by 3.5% during the fourth 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 last quarter. Finally, NewEdge Wealth LLC grew its position in 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 purchasing an additional 819 shares in the last quarter. 20.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IMO shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $101.00 price target on shares of Imperial Oil in a research report on Thursday, April 3rd. Raymond James Financial restated an "outperform" rating on shares of Imperial Oil in a report on Monday, May 5th. Scotiabank raised shares of Imperial Oil to a "hold" rating in a research report on Wednesday, March 19th. The Goldman Sachs Group downgraded shares of Imperial Oil from a "neutral" rating to a "sell" rating in a research report on Thursday, March 27th. Finally, Wolfe Research upgraded shares of Imperial Oil from a "peer perform" rating to an "outperform" rating in a research note on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $106.33.

Imperial Oil Stock Performance

Imperial Oil stock traded down $0.43 during midday trading on Wednesday, hitting $81.12. The company's stock had a trading volume of 382,935 shares, compared to its average volume of 453,429. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.22. The company has a market cap of $41.29 billion, a price-to-earnings ratio of 12.13 and a beta of 0.87. Imperial Oil Limited has a 1-year low of $58.76 and a 1-year high of $84.95. The company has a 50-day moving average price of $70.43 and a two-hundred day moving average price of $70.23.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 4th will be issued a $0.523 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This is a boost from Imperial Oil's previous quarterly dividend of $0.50. This represents a $2.09 annualized dividend and a yield of 2.58%. Imperial Oil's 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.