Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 38.5% during the third quarter, Holdings Channel.com reports. The fund owned 494,647 shares of the energy company’s stock after acquiring an additional 137,535 shares during the period. CIBC Asset Management Inc’s holdings in Imperial Oil were worth $34,814,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in shares of Imperial Oil in the first quarter worth $46,000. US Bancorp DE raised its stake in Imperial Oil by 91.6% in the 1st quarter. US Bancorp DE now owns 20,210 shares of the energy company’s stock valued at $1,397,000 after purchasing an additional 9,660 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Imperial Oil by 20.4% in the 1st quarter. Orion Portfolio Solutions LLC now owns 17,500 shares of the energy company’s stock valued at $1,210,000 after purchasing an additional 2,966 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Imperial Oil during the 1st quarter worth about $720,000. Finally, Seven Eight Capital LP purchased a new stake in shares of Imperial Oil during the first quarter worth about $466,000. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IMO shares. StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Scotiabank reissued a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a research note on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Imperial Oil has a consensus rating of “Hold” and a consensus target price of $109.00.

Imperial Oil Stock Performance

IMO opened at $73.98 on Friday. The stock has a market capitalization of $38.31 billion, a price-to-earnings ratio of 11.03 and a beta of 1.44. Imperial Oil Limited has a 12 month low of $52.97 and a 12 month high of $80.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.23.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be given a dividend of $0.4304 per share. This represents a $1.72 annualized dividend and a yield of 2.33%. The ex-dividend date is Tuesday, December 3rd. Imperial Oil’s dividend payout ratio (DPR) is 26.53%.

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.