CIBC Asset Management Inc Trims Position in Imperial Oil Limited $IMO

CIBC Asset Management Inc decreased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 4.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 160,085 shares of the energy company’s stock after selling 7,568 shares during the period. CIBC Asset Management Inc’s holdings in Imperial Oil were worth $13,839,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IMO. Root Financial Partners LLC lifted its position in shares of Imperial Oil by 87.8% in the fourth quarter. Root Financial Partners LLC now owns 293 shares of the energy company’s stock valued at $25,000 after acquiring an additional 137 shares in the last quarter. Westside Investment Management Inc. grew its position in shares of Imperial Oil by 100.0% during the third quarter. Westside Investment Management Inc. now owns 426 shares of the energy company’s stock worth $38,000 after purchasing an additional 213 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Imperial Oil by 64.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock valued at $40,000 after purchasing an additional 169 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Imperial Oil by 737.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company’s stock valued at $46,000 after purchasing an additional 450 shares during the period. Finally, Measured Wealth Private Client Group LLC purchased a new position in Imperial Oil in the 3rd quarter worth approximately $54,000. 20.74% of the stock is owned by institutional investors.

Imperial Oil Stock Performance

NYSEAMERICAN IMO opened at $126.90 on Friday. The stock has a market capitalization of $61.37 billion, a PE ratio of 29.93 and a beta of 0.43. Imperial Oil Limited has a 1-year low of $72.46 and a 1-year high of $139.44. The business has a 50 day simple moving average of $128.77 and a two-hundred day simple moving average of $112.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 1.02.

Imperial Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 4th will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, June 4th. Imperial Oil’s payout ratio is currently 38.69%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on IMO shares. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a report on Wednesday, May 13th. Zacks Research raised shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. Finally, Royal Bank Of Canada lowered 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 report on Monday, February 23rd. 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. According to data from MarketBeat, the stock presently 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.