Assenagon Asset Management S.A. Increases Stock Position in Imperial Oil Limited $IMO

Assenagon Asset Management S.A. increased its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 3.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,968 shares of the energy company’s stock after purchasing an additional 1,117 shares during the period. Assenagon Asset Management S.A.’s holdings in Imperial Oil were worth $2,854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. TD Asset Management Inc grew its position in Imperial Oil by 1.0% in the 1st quarter. TD Asset Management Inc now owns 4,873,843 shares of the energy company’s stock worth $352,014,000 after purchasing an additional 47,898 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Imperial Oil by 395.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,546,520 shares of the energy company’s stock worth $328,804,000 after buying an additional 3,629,568 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Imperial Oil by 54.7% in the first quarter. Mackenzie Financial Corp now owns 690,024 shares of the energy company’s stock worth $49,842,000 after acquiring an additional 243,894 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Imperial Oil by 273.2% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 658,949 shares of the energy company’s stock valued at $47,607,000 after acquiring an additional 482,393 shares during the last quarter. Finally, Amundi lifted its holdings in Imperial Oil by 0.5% in the first quarter. Amundi now owns 617,706 shares of the energy company’s stock valued at $42,368,000 after acquiring an additional 3,275 shares during the period. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Down 0.6%

NYSEAMERICAN IMO opened at $93.37 on Friday. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $96.09. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The stock has a market cap of $46.87 billion, a PE ratio of 14.39 and a beta of 0.94. The stock’s 50 day moving average is $87.35 and its 200 day moving average is $77.57.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Thursday, September 4th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.1%. The ex-dividend date is Thursday, September 4th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.52. Imperial Oil’s dividend payout ratio is presently 31.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IMO. Royal Bank Of Canada upped their price target on shares of Imperial Oil from $108.00 to $115.00 and gave the company a “sector perform” rating in a research report on Thursday. Wolfe Research cut shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 23rd. BMO Capital Markets reiterated an “outperform” rating on shares of Imperial Oil in a research report on Monday, August 4th. Zacks Research raised shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Finally, Desjardins lowered Imperial Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $115.00.

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 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.