Capital Wealth Planning LLC Grows Position in Imperial Oil Limited $IMO

Capital Wealth Planning LLC grew its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 62.8% during the 4th quarter, HoldingsChannel reports. The firm owned 149,262 shares of the energy company’s stock after buying an additional 57,570 shares during the quarter. Capital Wealth Planning LLC’s holdings in Imperial Oil were worth $13,298,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of IMO. UBS Group AG boosted its position in Imperial Oil by 566.9% in the 3rd quarter. UBS Group AG now owns 1,406,624 shares of the energy company’s stock worth $127,637,000 after purchasing an additional 1,195,698 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Imperial Oil by 30.4% during the 3rd quarter. Bank of America Corp DE now owns 3,840,645 shares of the energy company’s stock valued at $348,500,000 after buying an additional 895,117 shares in the last quarter. Mackenzie Financial Corp lifted its position 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 buying an additional 428,844 shares in the last quarter. JPMorgan Chase & Co. lifted its position 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 buying an additional 195,730 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Imperial Oil by 168.2% during the 4th quarter. BNP Paribas Financial Markets now owns 296,585 shares of the energy company’s stock valued at $25,598,000 after buying an additional 185,995 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Trading Up 1.1%

Shares of NYSEAMERICAN:IMO opened at $120.26 on Thursday. Imperial Oil Limited has a 1 year low of $75.32 and a 1 year high of $139.44. The firm has a market capitalization of $58.16 billion, a price-to-earnings ratio of 28.36 and a beta of 0.43. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 1.02. The business’s 50 day moving average price is $128.07 and its 200-day moving average price is $113.09.

Imperial Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 4th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, June 4th. Imperial Oil’s dividend payout ratio is currently 38.24%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada lowered Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 target price on the stock. in a research report on Monday, February 23rd. TD Securities reiterated a “sell” rating on shares of Imperial Oil in a research report on Wednesday, May 13th. Finally, Zacks Research upgraded Imperial Oil from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Imperial Oil currently has an average rating of “Reduce” and an average target price of $116.00.

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.