Azzad Asset Management Inc. ADV Takes Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Azzad Asset Management Inc. ADV acquired a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 70,457 shares of the energy company's stock, valued at approximately $5,095,000. Imperial Oil comprises approximately 0.6% of Azzad Asset Management Inc. ADV's holdings, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IMO. Group One Trading LLC boosted its stake in Imperial Oil by 29.7% during the fourth quarter. Group One Trading LLC now owns 755 shares of the energy company's stock worth $47,000 after buying an additional 173 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Imperial Oil by 104.0% in the 1st quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company's stock valued at $92,000 after purchasing an additional 650 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Imperial Oil by 21.0% in the 4th quarter. Allworth Financial LP now owns 1,630 shares of the energy company's stock valued at $100,000 after purchasing an additional 283 shares during the last quarter. Pacifica Partners Inc. lifted its stake in shares of Imperial Oil by 141.1% in the 1st quarter. Pacifica Partners Inc. now owns 2,440 shares of the energy company's stock valued at $167,000 after purchasing an additional 1,428 shares during the last quarter. Finally, Natixis acquired a new position in shares of Imperial Oil in the 4th quarter valued at $190,000. Institutional investors and hedge funds own 20.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IMO. The Goldman Sachs Group lowered Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th. Raymond James restated an "outperform" rating on shares of Imperial Oil in a report on Monday, May 5th. Scotiabank upgraded Imperial Oil to a "hold" rating in a report on Wednesday, March 19th. Wolfe Research upgraded Imperial Oil from a "peer perform" rating to an "outperform" rating in a report on Monday, April 21st. Finally, Desjardins downgraded Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $106.33.

Imperial Oil Trading Up 3.7%

Imperial Oil stock traded up $2.93 during trading on Friday, hitting $81.91. The company's stock had a trading volume of 705,521 shares, compared to its average volume of 453,776. The stock has a market capitalization of $41.70 billion, a price-to-earnings ratio of 12.43 and a beta of 1.44. The stock's fifty day moving average is $69.67 and its 200 day moving average is $70.19. Imperial Oil Limited has a 1-year low of $58.76 and a 1-year high of $81.95. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.34.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th will be given a $0.523 dividend. This is a boost from Imperial Oil's previous quarterly dividend of $0.50. This represents a $2.09 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, June 4th. Imperial Oil's dividend payout ratio (DPR) is currently 25.80%.

Imperial Oil 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.