Wealth Enhancement Advisory Services LLC Makes New $543,000 Investment in Imperial Oil Limited (NYSEAMERICAN:IMO)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,708 shares of the energy company’s stock, valued at approximately $543,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RFP Financial Group LLC purchased a new position in Imperial Oil during the 2nd quarter valued at about $25,000. Grove Bank & Trust grew its position in Imperial Oil by 438.0% during the third quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock valued at $38,000 after purchasing an additional 438 shares in the last quarter. Headlands Technologies LLC acquired a new position in Imperial Oil in the 1st quarter valued at approximately $46,000. Hexagon Capital Partners LLC lifted its position in Imperial Oil by 45.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 718 shares of the energy company’s stock worth $49,000 after buying an additional 225 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Imperial Oil by 21.0% during the 3rd quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock valued at $95,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IMO. Wolfe Research started coverage on Imperial Oil in a research note on Thursday, July 18th. They set an “outperform” rating and a $108.00 price target for the company. Scotiabank reaffirmed a “sector perform” rating and set a $110.00 price objective on shares of Imperial Oil in a research report on Wednesday, September 25th. Finally, StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $109.00.

Imperial Oil Trading Down 1.0 %

NYSEAMERICAN:IMO opened at $73.26 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.44 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a one year low of $52.97 and a one year high of $80.17. The firm has a market cap of $38.71 billion, a P/E ratio of 10.78 and a beta of 1.44.

Imperial Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.4304 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Tuesday, December 3rd. Imperial Oil’s payout ratio is presently 26.53%.

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.