Tidal Investments LLC Acquires 3,261 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Tidal Investments LLC raised its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 77.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,474 shares of the energy company’s stock after acquiring an additional 3,261 shares during the period. Tidal Investments LLC’s holdings in Imperial Oil were worth $527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new position in Imperial Oil during the 3rd quarter worth approximately $28,000. Grove Bank & Trust boosted its position in shares of Imperial Oil by 438.0% during the third quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock worth $38,000 after purchasing an additional 438 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Imperial Oil by 21.0% in 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. Oakworth Capital Inc. bought a new stake in shares of Imperial Oil in the 3rd quarter valued at $101,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Imperial Oil during the 3rd quarter worth $137,000. Institutional investors own 20.74% of the company’s stock.

Wall Street Analyst Weigh In

IMO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday. StockNews.com lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Scotiabank restated a “sector perform” rating and set a $110.00 price objective on shares of Imperial Oil in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $109.00.

Imperial Oil Price Performance

Shares of IMO stock opened at $61.73 on Monday. Imperial Oil Limited has a 12 month low of $54.58 and a 12 month high of $80.17. The firm has a market capitalization of $31.64 billion, a PE ratio of 9.20 and a beta of 1.42. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44.

Imperial Oil Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.4304 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.79%. Imperial Oil’s dividend payout ratio is 26.38%.

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.