CIBC Asset Management Inc Acquires 13,029 Shares of Imperial Oil Limited $IMO

CIBC Asset Management Inc boosted its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,653 shares of the energy company’s stock after purchasing an additional 13,029 shares during the quarter. CIBC Asset Management Inc’s holdings in Imperial Oil were worth $15,184,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. QV Investors Inc. acquired a new stake in shares of Imperial Oil during the 3rd quarter worth about $19,893,000. Triasima Portfolio Management inc. bought a new position in Imperial Oil in the 3rd quarter valued at about $6,476,000. Sequoia Financial Advisors LLC lifted its position in Imperial Oil by 36.9% during the third quarter. Sequoia Financial Advisors LLC now owns 5,312 shares of the energy company’s stock worth $482,000 after acquiring an additional 1,431 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Imperial Oil by 0.6% during the third quarter. Maryland State Retirement & Pension System now owns 68,248 shares of the energy company’s stock worth $6,186,000 after acquiring an additional 381 shares during the period. Finally, Gold Investment Management Ltd. grew its position in shares of Imperial Oil by 0.6% in the third quarter. Gold Investment Management Ltd. now owns 28,322 shares of the energy company’s stock valued at $2,568,000 after purchasing an additional 161 shares during the last quarter. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IMO has been the subject of several research reports. Raymond James Financial cut Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. Zacks Research downgraded Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Royal Bank Of Canada restated a “sector perform” rating on shares of Imperial Oil in a research note on Wednesday, November 5th. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research report on Tuesday, November 4th. Finally, BMO Capital Markets downgraded shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. Six analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $115.00.

Imperial Oil Stock Up 0.3%

Shares of IMO opened at $101.58 on Tuesday. The firm has a 50 day simple moving average of $92.63 and a two-hundred day simple moving average of $89.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.17. Imperial Oil Limited has a one year low of $58.76 and a one year high of $102.54. The company has a market cap of $49.12 billion, a P/E ratio of 18.30 and a beta of 0.70.

Imperial Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Wednesday, December 3rd were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Wednesday, December 3rd. Imperial Oil’s payout ratio is currently 31.26%.

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.