CWA Asset Management Group LLC Takes $1.76 Million Position in Imperial Oil Limited $IMO

CWA Asset Management Group LLC acquired a new stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 20,357 shares of the energy company’s stock, valued at approximately $1,757,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Imperial Oil by 1.5% during the third quarter. Vanguard Group Inc. now owns 6,710,473 shares of the energy company’s stock valued at $608,459,000 after buying an additional 100,665 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Imperial Oil by 30.4% in the third quarter. Bank of America Corp DE now owns 3,840,645 shares of the energy company’s stock worth $348,500,000 after buying an additional 895,117 shares during the last quarter. UBS Group AG boosted its stake in shares of Imperial Oil by 566.9% during the 3rd quarter. UBS Group AG now owns 1,406,624 shares of the energy company’s stock worth $127,637,000 after acquiring an additional 1,195,698 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Imperial Oil by 56.0% during the 3rd quarter. Mackenzie Financial Corp now owns 1,194,462 shares of the energy company’s stock valued at $108,282,000 after acquiring an additional 428,844 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Imperial Oil by 22.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,067,657 shares of the energy company’s stock valued at $96,879,000 after acquiring an additional 195,730 shares during the last quarter. 20.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IMO. Raymond James Financial lowered Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. Royal Bank Of Canada downgraded Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price target on the stock. in a report on Monday, February 23rd. TD Securities reissued a “sell” rating on shares of Imperial Oil in a research report on Monday, February 23rd. Finally, BMO Capital Markets cut shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. Four analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and a consensus target price of $116.00.

Imperial Oil Stock Performance

IMO opened at $126.61 on Monday. The firm has a market capitalization of $61.23 billion, a P/E ratio of 27.64 and a beta of 0.66. The stock’s 50 day moving average price is $112.51 and its two-hundred day moving average price is $98.58. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.18. Imperial Oil Limited has a 12-month low of $58.76 and a 12-month high of $129.84.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 5th will be paid a $0.87 dividend. The ex-dividend date is Thursday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.72. This represents a $3.48 annualized dividend and a dividend yield of 2.7%. Imperial Oil’s dividend payout ratio is 38.69%.

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.