Cidel Asset Management Inc. Takes Position in Imperial Oil Limited $IMO

Cidel Asset Management Inc. purchased a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,000 shares of the energy company’s stock, valued at approximately $1,175,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. UBS Group AG raised its position in Imperial Oil by 566.9% during the third 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 last quarter. Bank of America Corp DE lifted its holdings in shares of Imperial Oil by 30.4% in the third quarter. Bank of America Corp DE now owns 3,840,645 shares of the energy company’s stock valued at $348,500,000 after purchasing an additional 895,117 shares in the last quarter. Morgan Stanley grew its position in shares of Imperial Oil by 47.9% in the fourth quarter. Morgan Stanley now owns 1,867,363 shares of the energy company’s stock valued at $161,172,000 after purchasing an additional 604,447 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Imperial Oil by 56.0% in the third quarter. Mackenzie Financial Corp now owns 1,194,462 shares of the energy company’s stock valued at $108,282,000 after purchasing an additional 428,844 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Imperial Oil by 335.8% during the 4th quarter. AQR Capital Management LLC now owns 277,929 shares of the energy company’s stock worth $24,006,000 after purchasing an additional 214,152 shares in the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. TD Securities restated a “sell” rating on shares of Imperial Oil in a research report on Wednesday, May 13th. Zacks Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, Imperial Capital reissued a “sell” rating on shares of Imperial Oil in a research report on Tuesday. Four equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and a consensus target price of $116.00.

Imperial Oil Trading Down 1.9%

Shares of IMO stock opened at $112.50 on Thursday. The company has a market capitalization of $54.40 billion, a price-to-earnings ratio of 26.53 and a beta of 0.43. The company has a current ratio of 1.23, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $125.29 and a 200 day moving average price of $114.41. Imperial Oil Limited has a twelve month low of $78.03 and a twelve month high of $139.44.

Imperial Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 4th will be paid a dividend of $0.87 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $3.48 annualized dividend and a dividend yield of 3.1%. Imperial Oil’s dividend payout ratio is presently 38.24%.

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.