MAI Capital Management Boosts Stake in Imperial Oil Limited $IMO

MAI Capital Management lifted its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2,776.1% in the 3rd quarter, Holdings Channel reports. The fund owned 10,929 shares of the energy company’s stock after acquiring an additional 10,549 shares during the quarter. MAI Capital Management’s holdings in Imperial Oil were worth $992,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in IMO. Envestnet Asset Management Inc. lifted its holdings in shares of Imperial Oil by 13.9% during the third quarter. Envestnet Asset Management Inc. now owns 84,287 shares of the energy company’s stock valued at $7,648,000 after purchasing an additional 10,299 shares during the last quarter. Scotia Capital Inc. increased its position in Imperial Oil by 3.5% during the 2nd quarter. Scotia Capital Inc. now owns 233,736 shares of the energy company’s stock valued at $18,456,000 after buying an additional 7,940 shares in the last quarter. Vise Technologies Inc. purchased a new position in Imperial Oil during the second quarter valued at $1,235,000. Westerkirk Capital Inc. bought a new stake in Imperial Oil in the second quarter worth $852,000. Finally, Fiera Capital Corp grew its stake in shares of Imperial Oil by 1,294.3% in the second quarter. Fiera Capital Corp now owns 304,811 shares of the energy company’s stock worth $24,220,000 after acquiring an additional 282,949 shares during the last quarter. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Stock Performance

Shares of NYSEAMERICAN IMO opened at $117.30 on Monday. The firm’s 50-day moving average price is $102.17 and its 200-day moving average price is $94.93. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $123.52. The company has a market cap of $56.73 billion, a PE ratio of 25.61 and a beta of 0.66. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.18.

Imperial Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th will be given a $0.87 dividend. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.48 dividend on an annualized basis and a yield of 3.0%. Imperial Oil’s payout ratio is presently 31.26%.

Analysts Set New Price Targets

Several research firms have recently issued reports on IMO. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research report on Monday, February 23rd. Raymond James Financial cut shares of Imperial Oil from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. BMO Capital Markets cut shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. Finally, Royal Bank Of Canada downgraded shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price target for the company. in a research report on Monday, February 23rd. Five research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and a consensus target price of $116.00.

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.