Texas Capital Bank Wealth Management Services Inc Makes New $863,000 Investment in Imperial Oil Limited $IMO

Texas Capital Bank Wealth Management Services Inc acquired a new position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,000 shares of the energy company’s stock, valued at approximately $863,000.

A number of other institutional investors have also recently added to or reduced their stakes in IMO. UBS Group AG lifted its holdings 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 buying an additional 1,195,698 shares in the last quarter. Bank of America Corp DE lifted its holdings in 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. Mackenzie Financial Corp lifted its holdings in 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. JPMorgan Chase & Co. lifted its holdings in 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 buying an additional 195,730 shares in the last quarter. Finally, Fiera Capital Corp lifted its holdings in Imperial Oil by 55.5% in the 3rd quarter. Fiera Capital Corp now owns 474,132 shares of the energy company’s stock worth $42,976,000 after buying an additional 169,321 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TD Securities restated a “sell” rating on shares of Imperial Oil in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 24th. Finally, 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 on the stock. in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Imperial Oil presently has an average rating of “Reduce” and a consensus target price of $116.00.

Imperial Oil Stock Performance

Shares of Imperial Oil stock opened at $122.69 on Friday. The firm has a market cap of $59.33 billion, a PE ratio of 28.94 and a beta of 0.48. The firm’s 50-day simple moving average is $129.13 and its 200-day simple moving average is $111.53. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.23. Imperial Oil Limited has a 1 year low of $70.87 and a 1 year high of $139.44.

Imperial Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 4th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Thursday, June 4th. Imperial Oil’s dividend payout ratio is 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.