7,706 Shares in Imperial Oil Limited $IMO Purchased by Morningstar Investment Management LLC

Morningstar Investment Management LLC acquired a new position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 7,706 shares of the energy company’s stock, valued at approximately $612,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wayfinding Financial LLC acquired a new position in Imperial Oil in the first quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. increased its stake in Imperial Oil by 88.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company’s stock worth $39,000 after purchasing an additional 255 shares in the last quarter. Continuum Advisory LLC purchased a new position in Imperial Oil in the 1st quarter worth about $71,000. Banque Transatlantique SA purchased a new position in Imperial Oil in the 1st quarter worth about $87,000. Finally, Focus Partners Wealth purchased a new position in Imperial Oil in the 1st quarter worth about $200,000. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Stock Performance

IMO opened at $88.25 on Tuesday. The company has a market cap of $44.30 billion, a PE ratio of 13.60 and a beta of 0.83. The stock has a 50-day moving average of $88.84 and a 200-day moving average of $79.34. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $96.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.58.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Thursday, September 4th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, September 4th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.52. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. Imperial Oil’s dividend payout ratio (DPR) is currently 31.87%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on IMO shares. BMO Capital Markets reiterated an “outperform” rating on shares of Imperial Oil in a research report on Monday, August 4th. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada lifted their target price on Imperial Oil from $108.00 to $115.00 and gave the company a “sector perform” rating in a research note on Thursday, September 25th. Zacks Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, Tudor Pickering downgraded shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Imperial Oil has a consensus rating of “Reduce” and an average price target of $115.00.

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.