Wealth Enhancement Advisory Services LLC Buys New Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Wealth Enhancement Advisory Services LLC bought a new position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,708 shares of the energy company's stock, valued at approximately $543,000.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP raised its holdings in Imperial Oil by 21.0% in the third 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. Ballentine Partners LLC purchased a new position in Imperial Oil in the third quarter valued at approximately $254,000. Assenagon Asset Management S.A. raised its holdings in Imperial Oil by 855.2% in the third quarter. Assenagon Asset Management S.A. now owns 35,981 shares of the energy company's stock valued at $2,534,000 after buying an additional 32,214 shares during the period. International Assets Investment Management LLC purchased a new position in Imperial Oil in the third quarter valued at approximately $14,890,000. Finally, Greenleaf Trust raised its stake in shares of Imperial Oil by 46.3% during the third quarter. Greenleaf Trust now owns 5,050 shares of the energy company's stock valued at $356,000 after purchasing an additional 1,599 shares during the period. 20.74% of the stock is owned by institutional investors and hedge funds.

Imperial Oil Price Performance

Shares of NYSEAMERICAN IMO traded down $0.72 during midday trading on Friday, reaching $73.26. 358,396 shares of the company traded hands, compared to its average volume of 433,581. Imperial Oil Limited has a 52 week low of $52.97 and a 52 week high of $80.17. The company has a quick ratio of 1.16, a current ratio of 1.44 and a debt-to-equity ratio of 0.17. The stock has a market cap of $38.71 billion, a P/E ratio of 10.92 and a beta of 1.44.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.4304 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Tuesday, December 3rd. Imperial Oil's dividend payout ratio is currently 26.53%.

Analyst Upgrades and Downgrades

IMO has been the topic of a number of analyst reports. Wolfe Research initiated coverage on shares of Imperial Oil in a research note on Thursday, July 18th. They set an "outperform" rating and a $108.00 price objective on the stock. 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 issued a $110.00 price target on shares of Imperial Oil in a research note on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $109.00.

About Imperial Oil

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.