Cibc World Market Inc. Boosts Stock Position in Imperial Oil Limited $IMO

Cibc World Market Inc. raised its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 8.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,243,738 shares of the energy company’s stock after purchasing an additional 96,694 shares during the period. Cibc World Market Inc. owned 0.26% of Imperial Oil worth $107,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Argent Trust Co purchased a new position in Imperial Oil in the third quarter valued at about $2,308,000. MAI Capital Management boosted its holdings in Imperial Oil by 2,776.1% in the third quarter. MAI Capital Management now owns 10,929 shares of the energy company’s stock worth $992,000 after acquiring an additional 10,549 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Imperial Oil by 13.9% in the third quarter. Envestnet Asset Management Inc. now owns 84,287 shares of the energy company’s stock worth $7,648,000 after acquiring an additional 10,299 shares in the last quarter. Swiss Life Asset Management Ltd boosted its holdings in Imperial Oil by 88.4% in the third quarter. Swiss Life Asset Management Ltd now owns 36,253 shares of the energy company’s stock worth $3,290,000 after acquiring an additional 17,011 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in Imperial Oil in the third quarter worth about $1,852,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Trading Up 1.5%

Imperial Oil stock opened at $126.27 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a 52 week low of $70.99 and a 52 week high of $139.44. The company has a market capitalization of $61.06 billion, a price-to-earnings ratio of 29.78 and a beta of 0.43. The stock has a 50-day moving average price of $128.82 and a 200 day moving average price of $112.27.

Imperial Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 4th will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. Imperial Oil’s payout ratio is 38.69%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IMO. Royal Bank Of Canada downgraded Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price target for the company. in a report on Monday, February 23rd. TD Securities reissued a “sell” rating on shares of Imperial Oil in a report on Wednesday, May 13th. Finally, Zacks Research raised Imperial Oil from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Imperial Oil currently has an average rating of “Reduce” and an average target price of $116.00.

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.