Cidel Asset Management Inc. Makes New Investment in Imperial Oil Limited $IMO

Cidel Asset Management Inc. acquired a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,000 shares of the energy company’s stock, valued at approximately $1,175,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in IMO. UBS Group AG increased its stake in Imperial Oil by 566.9% in the third quarter. UBS Group AG now owns 1,406,624 shares of the energy company’s stock valued at $127,637,000 after purchasing an additional 1,195,698 shares during the last quarter. Bank of America Corp DE boosted 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 buying an additional 895,117 shares during the last quarter. Morgan Stanley boosted 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 buying an additional 604,447 shares during the last quarter. Mackenzie Financial Corp grew its holdings 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 valued at $108,282,000 after buying an additional 428,844 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Imperial Oil by 335.8% in the 4th quarter. AQR Capital Management LLC now owns 277,929 shares of the energy company’s stock valued at $24,006,000 after buying an additional 214,152 shares during the period. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IMO shares. Zacks Research downgraded shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. TD Securities reissued a “sell” rating on shares of Imperial Oil in a research report on Wednesday, May 13th. Finally, Imperial Capital restated a “sell” rating on shares of Imperial Oil in a report on Tuesday. Four research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from 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%

IMO stock opened at $112.50 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The company has a market cap of $54.40 billion, a price-to-earnings ratio of 26.53 and a beta of 0.43. The business has a fifty day simple moving average of $125.29 and a 200-day simple moving average of $114.41. Imperial Oil Limited has a 52 week low of $78.03 and a 52 week high of $139.44.

Imperial Oil Dividend Announcement

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

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.