Imperial Oil Limited (NYSEAMERICAN:IMO) Position Raised by Intech Investment Management LLC

Intech Investment Management LLC raised its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 96.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 20,515 shares of the energy company’s stock after buying an additional 10,080 shares during the quarter. Intech Investment Management LLC’s holdings in Imperial Oil were worth $1,445,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in IMO. Manning & Napier Advisors LLC bought a new stake in shares of Imperial Oil during the second quarter valued at about $3,064,000. Fiera Capital Corp raised its stake in shares of Imperial Oil by 262.5% during the second quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock valued at $6,511,000 after purchasing an additional 69,121 shares in the last quarter. Ritholtz Wealth Management raised its stake in shares of Imperial Oil by 17.4% during the third quarter. Ritholtz Wealth Management now owns 59,726 shares of the energy company’s stock valued at $4,208,000 after purchasing an additional 8,858 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Imperial Oil by 855.2% during the third quarter. Assenagon Asset Management S.A. now owns 35,981 shares of the energy company’s stock valued at $2,534,000 after purchasing an additional 32,214 shares in the last quarter. Finally, M&G Plc bought a new stake in shares of Imperial Oil during the second quarter valued at about $627,000. 20.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IMO has been the topic of a number of recent analyst reports. StockNews.com cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Scotiabank reiterated a “sector perform” rating and issued a $110.00 price target on shares of Imperial Oil in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $109.00.

Imperial Oil Trading Down 1.8 %

Shares of Imperial Oil stock opened at $75.72 on Tuesday. 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 Limited has a 52 week low of $52.97 and a 52 week high of $80.17. The stock has a market capitalization of $39.21 billion, a price-to-earnings ratio of 11.28 and a beta of 1.44.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be paid a $0.4304 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a yield of 2.27%. Imperial Oil’s dividend payout ratio is currently 26.53%.

Imperial Oil Company Profile

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.