Triasima Portfolio Management inc. Purchases New Shares in Imperial Oil Limited $IMO

Triasima Portfolio Management inc. acquired a new position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) in the third quarter, Holdings Channel reports. The institutional investor acquired 71,405 shares of the energy company’s stock, valued at approximately $6,476,000.

A number of other large investors have also recently made changes to their positions in the business. IFG Advisory LLC lifted its holdings in shares of Imperial Oil by 0.4% in the 2nd quarter. IFG Advisory LLC now owns 32,359 shares of the energy company’s stock valued at $2,572,000 after acquiring an additional 136 shares during the last quarter. Gold Investment Management Ltd. lifted its stake in shares of Imperial Oil by 0.6% in the 3rd quarter. Gold Investment Management Ltd. now owns 28,322 shares of the energy company’s stock valued at $2,568,000 after purchasing an additional 161 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Imperial Oil by 4.9% in the 2nd quarter. Ballentine Partners LLC now owns 3,971 shares of the energy company’s stock worth $316,000 after purchasing an additional 184 shares during the period. NewEdge Advisors LLC increased its position in shares of Imperial Oil by 1.5% during the 2nd quarter. NewEdge Advisors LLC now owns 12,071 shares of the energy company’s stock valued at $959,000 after purchasing an additional 184 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Imperial Oil by 9.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,472 shares of the energy company’s stock valued at $196,000 after buying an additional 206 shares during the period. 20.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IMO has been the subject of several recent analyst reports. Cibc World Mkts lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. TD Securities reissued a “sell” rating on shares of Imperial Oil in a research report on Tuesday, November 4th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Imperial Oil in a research note on Wednesday, November 5th. BMO Capital Markets lowered Imperial Oil from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. Finally, Zacks Research downgraded Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Six equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $115.00.

Imperial Oil Stock Up 2.2%

Shares of NYSEAMERICAN:IMO opened at $98.43 on Tuesday. The business’s 50 day moving average is $92.37 and its 200 day moving average is $89.20. The stock has a market cap of $47.60 billion, a P/E ratio of 17.69 and a beta of 0.70. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $101.01. The company has a quick ratio of 1.17, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Imperial Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Wednesday, December 3rd were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 2.9%. Imperial Oil’s dividend payout ratio (DPR) is 31.26%.

Imperial Oil Company 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.