25,433 Shares in Imperial Oil Limited $IMO Purchased by Argent Trust Co

Argent Trust Co bought a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 25,433 shares of the energy company’s stock, valued at approximately $2,308,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in IMO. AQR Capital Management LLC boosted its position in shares of Imperial Oil by 5.0% during the 1st quarter. AQR Capital Management LLC now owns 34,218 shares of the energy company’s stock worth $2,475,000 after acquiring an additional 1,627 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Imperial Oil by 54.7% during the first quarter. NewEdge Advisors LLC now owns 11,887 shares of the energy company’s stock worth $860,000 after purchasing an additional 4,201 shares during the last quarter. Focus Partners Wealth bought a new position in shares of Imperial Oil in the 1st quarter valued at $200,000. Envestnet Asset Management Inc. raised its holdings in shares of Imperial Oil by 8.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 73,988 shares of the energy company’s stock worth $5,881,000 after buying an additional 5,689 shares in the last quarter. Finally, Atria Investments Inc lifted its position in shares of Imperial Oil by 34.8% during the 2nd quarter. Atria Investments Inc now owns 5,986 shares of the energy company’s stock worth $476,000 after buying an additional 1,545 shares during the last quarter. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on IMO shares. BMO Capital Markets cut Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Raymond James Financial lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. Royal Bank Of Canada downgraded shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price objective for the company. in a research note on Monday, February 23rd. Finally, TD Securities restated a “sell” rating on shares of Imperial Oil in a research report on Monday, February 23rd. Five equities research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, Imperial Oil currently has an average rating of “Strong Sell” and a consensus target price of $116.00.

Imperial Oil Stock Performance

Shares of IMO stock opened at $117.30 on Friday. The stock has a market capitalization of $56.73 billion, a PE ratio of 25.61 and a beta of 0.70. The business’s 50 day simple moving average is $102.17 and its 200 day simple moving average is $94.85. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.27 and a quick ratio of 0.94. Imperial Oil Limited has a one year low of $58.76 and a one year high of $123.52.

Imperial Oil Increases Dividend

The company 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 dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 3.0%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, March 5th. Imperial Oil’s payout ratio is currently 31.26%.

About Imperial Oil

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.