GAMMA Investing LLC Has $580,000 Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

GAMMA Investing LLC lifted its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 7,136.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 796 shares of the energy company’s stock after acquiring an additional 785 shares during the period. GAMMA Investing LLC’s holdings in Imperial Oil were worth $580,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Group One Trading LLC grew its stake in shares of Imperial Oil by 29.7% in the 4th quarter. Group One Trading LLC now owns 755 shares of the energy company’s stock worth $47,000 after acquiring an additional 173 shares in the last quarter. AdvisorNet Financial Inc grew its stake in shares of Imperial Oil by 104.0% in the 1st quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company’s stock worth $92,000 after acquiring an additional 650 shares in the last quarter. Allworth Financial LP grew its stake in shares of Imperial Oil by 21.0% in the 4th quarter. Allworth Financial LP now owns 1,630 shares of the energy company’s stock worth $100,000 after acquiring an additional 283 shares in the last quarter. Natixis bought a new stake in shares of Imperial Oil in the 4th quarter worth $190,000. Finally, Quantbot Technologies LP bought a new stake in shares of Imperial Oil in the 4th quarter worth $193,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Stock Performance

Shares of Imperial Oil stock opened at $81.12 on Thursday. The business has a fifty day simple moving average of $70.76 and a two-hundred day simple moving average of $70.25. The company has a current ratio of 1.48, a quick ratio of 1.22 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $41.29 billion, a P/E ratio of 12.13 and a beta of 0.87. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $82.85.

Imperial Oil Increases Dividend

The company also recently declared 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. This represents a $2.09 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Wednesday, June 4th. Imperial Oil’s payout ratio is currently 31.87%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wolfe Research upgraded shares of Imperial Oil from a “peer perform” rating to an “outperform” rating in a research report on Monday, April 21st. The Goldman Sachs Group lowered shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. Desjardins downgraded shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 3rd. Raymond James Financial reaffirmed an “outperform” rating on shares of Imperial Oil in a report on Monday, May 5th. Finally, Scotiabank raised shares of Imperial Oil to a “hold” rating in a report on Wednesday, March 19th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Imperial Oil presently has a consensus rating of “Hold” and an average 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.