Imperial Oil Limited (NYSEAMERICAN:IMO) Stock Holdings Increased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,851 shares of the energy company’s stock after buying an additional 499 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Imperial Oil were worth $2,517,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Imperial Oil by 29.0% in the 4th quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company’s stock valued at $58,212,000 after acquiring an additional 212,707 shares in the last quarter. Stevens Capital Management LP bought a new stake in shares of Imperial Oil during the fourth quarter worth approximately $258,000. Envestnet Asset Management Inc. raised its position in shares of Imperial Oil by 8.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 63,193 shares of the energy company’s stock valued at $3,893,000 after acquiring an additional 5,181 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Imperial Oil in the 4th quarter worth $7,982,000. Finally, US Bancorp DE increased its holdings in Imperial Oil by 1.5% in the fourth quarter. US Bancorp DE now owns 20,408 shares of the energy company’s stock valued at $1,257,000 after purchasing an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Trading Down 0.7%

Shares of IMO stock opened at $81.32 on Tuesday. The stock has a market cap of $41.40 billion, a P/E ratio of 12.34 and a beta of 1.44. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $82.85. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $70.09 and a 200 day simple moving average of $70.21.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.523 per share. This is an increase from Imperial Oil’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $2.09 annualized dividend and a yield of 2.57%. Imperial Oil’s payout ratio is presently 25.80%.

Wall Street Analysts Forecast Growth

IMO has been the topic of a number of research reports. Raymond James reaffirmed an “outperform” rating on shares of Imperial Oil in a research note on Monday, May 5th. Desjardins lowered shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $101.00 price objective on shares of Imperial Oil in a research report on Thursday, April 3rd. Wolfe Research upgraded Imperial Oil from a “peer perform” rating to an “outperform” rating in a report on Monday, April 21st. Finally, The Goldman Sachs Group downgraded Imperial Oil from a “neutral” rating to a “sell” rating in a research note on Thursday, March 27th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $106.33.

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.