Aigen Investment Management LP Invests $527,000 in Imperial Oil Limited $IMO

Aigen Investment Management LP acquired a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,103 shares of the energy company’s stock, valued at approximately $527,000.

A number of other hedge funds have also modified their holdings of IMO. UBS Group AG grew its stake in Imperial Oil by 566.9% in the 3rd quarter. UBS Group AG now owns 1,406,624 shares of the energy company’s stock worth $127,637,000 after acquiring an additional 1,195,698 shares during the period. Bank of America Corp DE grew its stake in Imperial Oil by 30.4% in the 3rd quarter. Bank of America Corp DE now owns 3,840,645 shares of the energy company’s stock worth $348,500,000 after acquiring an additional 895,117 shares during the period. Morgan Stanley grew its stake in Imperial Oil by 47.9% in the 4th quarter. Morgan Stanley now owns 1,867,363 shares of the energy company’s stock worth $161,172,000 after acquiring an additional 604,447 shares during the period. Mackenzie Financial Corp grew its stake in Imperial Oil by 56.0% in the 3rd quarter. Mackenzie Financial Corp now owns 1,194,462 shares of the energy company’s stock worth $108,282,000 after acquiring an additional 428,844 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Imperial Oil by 22.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,067,657 shares of the energy company’s stock worth $96,879,000 after acquiring an additional 195,730 shares during the period. 20.74% of the stock is owned by hedge funds and other institutional investors.

Imperial Oil Stock Down 0.9%

Shares of NYSEAMERICAN IMO opened at $120.20 on Tuesday. Imperial Oil Limited has a 52-week low of $77.20 and a 52-week high of $139.44. The firm has a fifty day moving average of $127.52 and a 200-day moving average of $113.58. The stock has a market capitalization of $58.13 billion, a PE ratio of 28.35 and a beta of 0.43. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.

Imperial Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 4th will be issued a dividend of $0.87 per share. The ex-dividend date is Thursday, June 4th. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. Imperial Oil’s payout ratio is presently 38.24%.

Analyst Ratings Changes

Several analysts have commented on IMO shares. Royal Bank Of Canada cut shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 target price for the company. in a research note on Monday, February 23rd. Zacks Research raised shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 24th. Finally, TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Imperial Oil has a consensus rating of “Reduce” and a consensus price target of $116.00.

About Imperial Oil

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.