Northwestern Mutual Wealth Management Co. Raises Stock Position in Imperial Oil Limited $IMO

Northwestern Mutual Wealth Management Co. grew its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 8,914.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,066 shares of the energy company’s stock after buying an additional 45,555 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Imperial Oil were worth $3,976,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Imperial Oil by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,710,473 shares of the energy company’s stock worth $608,459,000 after buying an additional 100,665 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Imperial Oil by 30.4% in the 3rd 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 in the last quarter. UBS Group AG grew its stake in shares of Imperial Oil by 21.6% in the 4th quarter. UBS Group AG now owns 1,709,910 shares of the energy company’s stock worth $147,582,000 after buying an additional 303,286 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Imperial Oil by 56.0% in the 3rd quarter. Mackenzie Financial Corp now owns 1,194,462 shares of the energy company’s stock worth $108,282,000 after buying an additional 428,844 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Imperial Oil by 22.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,067,657 shares of the energy company’s stock worth $96,879,000 after acquiring an additional 195,730 shares during the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Imperial Oil Price Performance

Imperial Oil stock opened at $133.19 on Monday. The firm has a 50-day moving average price of $128.74 and a 200-day moving average price of $110.49. The firm has a market capitalization of $64.41 billion, a PE ratio of 31.41 and a beta of 0.48. The company has a current ratio of 1.23, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a 12-month low of $70.61 and a 12-month high of $139.44.

Imperial Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 4th will be issued a dividend of $0.87 per share. The ex-dividend date is Thursday, June 4th. This represents a $3.48 dividend on an annualized basis and a yield of 2.6%. Imperial Oil’s dividend payout ratio (DPR) is presently 38.69%.

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.