Envestnet Asset Management Inc. Buys 10,299 Shares of Imperial Oil Limited $IMO

Envestnet Asset Management Inc. grew its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 13.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,287 shares of the energy company’s stock after acquiring an additional 10,299 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Imperial Oil were worth $7,648,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of IMO. Bank of America Corp DE boosted its stake in Imperial Oil by 31.6% in the 2nd quarter. Bank of America Corp DE now owns 2,945,528 shares of the energy company’s stock worth $234,111,000 after purchasing an additional 707,985 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Imperial Oil by 16.2% in the second quarter. Bank of Montreal Can now owns 3,235,443 shares of the energy company’s stock worth $257,194,000 after buying an additional 451,369 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Imperial Oil by 219.9% in the second quarter. TD Waterhouse Canada Inc. now owns 532,311 shares of the energy company’s stock worth $42,668,000 after buying an additional 365,936 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Imperial Oil by 18.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,053,989 shares of the energy company’s stock valued at $163,413,000 after buying an additional 318,696 shares during the last quarter. Finally, Fiera Capital Corp increased its position in shares of Imperial Oil by 1,294.3% during the second quarter. Fiera Capital Corp now owns 304,811 shares of the energy company’s stock valued at $24,220,000 after acquiring an additional 282,949 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Imperial Oil in a research report on Wednesday, November 5th. Raymond James Financial cut Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Monday, December 8th. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a report on Tuesday, November 4th. Finally, BMO Capital Markets lowered Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Six analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $115.00.

Imperial Oil Stock Down 1.5%

Imperial Oil stock opened at $120.69 on Friday. Imperial Oil Limited has a one year low of $58.76 and a one year high of $123.52. The stock has a fifty day moving average of $99.04 and a 200 day moving average of $93.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.17 and a current ratio of 1.27. The stock has a market cap of $58.36 billion, a PE ratio of 26.35 and a beta of 0.70.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th will be given a $0.87 dividend. The ex-dividend date is Thursday, March 5th. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 annualized dividend and a yield of 2.9%. Imperial Oil’s payout ratio is 31.26%.

Imperial Oil Profile

Imperial Oil (NYSEAMERICAN: IMO) is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country’s long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial’s operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.