Ritholtz Wealth Management Acquires 1,523 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Ritholtz Wealth Management lifted its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,082 shares of the energy company’s stock after purchasing an additional 1,523 shares during the quarter. Ritholtz Wealth Management’s holdings in Imperial Oil were worth $2,750,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BNP Paribas Arbitrage SNC acquired a new position in Imperial Oil during the 3rd quarter worth approximately $35,000. Allworth Financial LP increased its stake in shares of Imperial Oil by 176.6% during the third quarter. Allworth Financial LP now owns 888 shares of the energy company’s stock worth $55,000 after purchasing an additional 567 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Imperial Oil by 229.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,724 shares of the energy company’s stock worth $84,000 after purchasing an additional 1,200 shares in the last quarter. State of Wyoming lifted its position in shares of Imperial Oil by 21.7% during the 2nd quarter. State of Wyoming now owns 2,900 shares of the energy company’s stock valued at $148,000 after acquiring an additional 517 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co bought a new stake in shares of Imperial Oil during the 3rd quarter worth approximately $203,000. Institutional investors own 20.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upgraded shares of Imperial Oil from an “underweight” rating to a “neutral” rating in a report on Friday, December 8th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $85.33.

Imperial Oil Stock Up 0.7 %

NYSEAMERICAN IMO traded up $0.48 on Thursday, hitting $69.13. 351,087 shares of the company were exchanged, compared to its average volume of 425,940. The firm has a market cap of $37.04 billion, a PE ratio of 10.96 and a beta of 1.48. Imperial Oil Limited has a 12 month low of $44.46 and a 12 month high of $69.50. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.18.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its earnings results on Friday, February 2nd. The energy company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.26. The company had revenue of $9.63 billion for the quarter, compared to analyst estimates of $12.29 billion. Imperial Oil had a return on equity of 20.92% and a net margin of 9.59%. As a group, sell-side analysts forecast that Imperial Oil Limited will post 5.69 earnings per share for the current fiscal year.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be given a dividend of $0.4473 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $1.79 annualized dividend and a dividend yield of 2.59%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.36. Imperial Oil’s dividend payout ratio (DPR) is currently 28.05%.

Imperial Oil Company 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 for, 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.