Cibc World Markets Corp acquired a new stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO – Free Report) (TSE:IMO) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,000 shares of the energy company’s stock, valued at approximately $864,000.
Several other large investors also recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its stake in Imperial Oil by 636.0% during the first quarter. Acadian Asset Management LLC now owns 356,200 shares of the energy company’s stock worth $18,084,000 after purchasing an additional 307,800 shares during the last quarter. FMR LLC increased its holdings in shares of Imperial Oil by 11.8% in the first quarter. FMR LLC now owns 26,475,124 shares of the energy company’s stock worth $1,346,382,000 after buying an additional 2,802,294 shares during the period. Cerity Partners LLC increased its holdings in shares of Imperial Oil by 1.0% in the first quarter. Cerity Partners LLC now owns 29,150 shares of the energy company’s stock worth $1,481,000 after buying an additional 289 shares during the period. Natixis Advisors L.P. increased its holdings in shares of Imperial Oil by 13.7% in the first quarter. Natixis Advisors L.P. now owns 11,456 shares of the energy company’s stock worth $582,000 after buying an additional 1,384 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Imperial Oil by 8.1% in the first quarter. American Century Companies Inc. now owns 55,829 shares of the energy company’s stock worth $2,839,000 after buying an additional 4,172 shares during the period. Institutional investors own 20.74% of the company’s stock.
Imperial Oil Stock Performance
IMO stock opened at $57.91 on Friday. Imperial Oil Limited has a fifty-two week low of $40.20 and a fifty-two week high of $58.99. The stock’s 50 day moving average price is $48.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.26. The stock has a market cap of $33.70 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 0.38 and a beta of 1.56.
Imperial Oil Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be given a $0.3789 dividend. This is a boost from Imperial Oil’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, August 31st. Imperial Oil’s payout ratio is currently 21.19%.
Wall Street Analyst Weigh In
Several research firms have recently commented on IMO. CIBC lifted their price objective on Imperial Oil from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Tuesday, August 29th. StockNews.com began coverage on Imperial Oil in a report on Wednesday, August 23rd. They issued a “hold” rating on the stock. Finally, UBS Group began coverage on Imperial Oil in a report on Wednesday, July 12th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.00.
Get Our Latest Research Report on IMO
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 is involved in the transportation and refining of crude oil, blending of refined products, and the distribution and marketing of refined products.
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