Azzad Asset Management Inc. ADV Has $4.46 Million Stock Holdings in Imperial Oil Limited $IMO

Key Points

• Azzad Asset Management cut its Imperial Oil stake by 54.1% in the first quarter, selling 40,204 shares and leaving it with 34,120 shares worth about $4.46 million.
• Wall Street sentiment on Imperial Oil is cautious: analysts currently show a consensus rating of "Reduce" with a $116 target price, and recent reports included multiple sell and hold ratings.
• Imperial Oil recently paid a quarterly dividend of $0.87 per share, equal to a 2.9% yield, while the stock opened at $120 and has traded between $78.87 and $139.44 over the past year.

Azzad Asset Management Inc. ADV trimmed its position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 54.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,120 shares of the energy company's stock after selling 40,204 shares during the period. Azzad Asset Management Inc. ADV's holdings in Imperial Oil were worth $4,464,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of IMO. Ensign Peak Advisors Inc lifted its stake in Imperial Oil by 1.0% during the 4th quarter. Ensign Peak Advisors Inc now owns 9,924 shares of the energy company's stock valued at $858,000 after acquiring an additional 100 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Imperial Oil by 23.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 531 shares of the energy company's stock worth $46,000 after purchasing an additional 101 shares during the period. Baron Wealth Management LLC lifted its position in shares of Imperial Oil by 3.2% during the 1st quarter. Baron Wealth Management LLC now owns 4,030 shares of the energy company's stock valued at $527,000 after buying an additional 124 shares during the last quarter. Root Financial Partners LLC lifted its holdings in Imperial Oil by 87.8% during the fourth quarter. Root Financial Partners LLC now owns 293 shares of the energy company's stock valued at $25,000 after purchasing an additional 137 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Imperial Oil by 1.5% during the 2nd quarter. NewEdge Advisors LLC now owns 12,071 shares of the energy company's stock valued at $959,000 after buying an additional 184 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IMO. Zacks Research cut Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 16th. Imperial Capital reiterated a "sell" rating on shares of Imperial Oil in a research report on Tuesday, June 23rd. TD Securities reaffirmed a "sell" rating on shares of Imperial Oil in a research note on Wednesday, May 13th. Finally, Scotiabank raised Imperial Oil to a "hold" rating in a research note on Friday, June 26th. Five equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $116.00.

Imperial Oil Price Performance

IMO opened at $120.00 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $122.99 and a two-hundred day simple moving average of $116.41. The company has a market cap of $58.03 billion, a price-to-earnings ratio of 28.30 and a beta of 0.45. Imperial Oil Limited has a 12-month low of $78.87 and a 12-month high of $139.44.

Imperial Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Thursday, June 4th were issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Thursday, June 4th. Imperial Oil's dividend payout ratio (DPR) is presently 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.

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