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

by · The Markets Daily

CIBC Asset Management Inc increased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO – Free Report) (TSE:IMO) by 38.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 494,647 shares of the energy company’s stock after buying an additional 137,535 shares during the quarter. CIBC Asset Management Inc owned about 0.09% of Imperial Oil worth $34,814,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IMO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Imperial Oil by 10,896.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock valued at $59,135,000 after buying an additional 859,288 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Imperial Oil in the 2nd quarter worth approximately $40,729,000. Capital World Investors boosted its position in shares of Imperial Oil by 134.0% during the 1st quarter. Capital World Investors now owns 747,929 shares of the energy company’s stock worth $51,588,000 after purchasing an additional 428,252 shares during the period. TD Asset Management Inc raised its position in Imperial Oil by 12.2% in the second quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock valued at $258,817,000 after purchasing an additional 412,600 shares during the period. Finally, SIR Capital Management L.P. acquired a new position in Imperial Oil during the second quarter worth $11,405,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Stock Performance

NYSEAMERICAN:IMO opened at $73.98 on Friday. The company has a market cap of $38.31 billion, a P/E ratio of 11.03 and a beta of 1.44. Imperial Oil Limited has a 52-week low of $52.97 and a 52-week high of $80.17. The company has a current ratio of 1.44, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17.

Imperial Oil Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Scotiabank reiterated a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a research note on Wednesday, September 25th. StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $109.00.

Get Our Latest Stock Analysis on Imperial Oil

Imperial Oil Company Profile

(Free Report)

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.

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