Azzad Asset Management Inc. ADV Acquires New Shares in Imperial Oil Limited (NYSEAMERICAN:IMO)

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its position in shares of Imperial Oil by 1.5% during the first quarter. Assenagon Asset Management S.A. now owns 34,851 shares of the energy company's stock valued at $2,517,000 after acquiring an additional 499 shares in the last quarter. Yousif Capital Management LLC bought a new stake in shares of Imperial Oil in the 1st quarter worth $226,000. Graves Light Lenhart Wealth Inc. purchased a new position in shares of Imperial Oil in the first quarter worth $217,000. Pacifica Partners Inc. lifted its holdings in shares of Imperial Oil by 141.1% during the first 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 in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Imperial Oil by 7,136.4% during the first quarter. GAMMA Investing LLC now owns 796 shares of the energy company's stock valued at $580,000 after buying an additional 785 shares during the last quarter. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Trading Up 0.3%

IMO traded up $0.23 on Tuesday, hitting $81.55. The company had a trading volume of 380,414 shares, compared to its average volume of 453,623. The company has a market cap of $41.51 billion, a PE ratio of 12.19 and a beta of 0.87. Imperial Oil Limited has a 12-month low of $58.76 and a 12-month high of $82.85. The business's fifty day simple moving average is $70.43 and its 200 day simple moving average is $70.23. The company has a quick ratio of 1.22, a current ratio of 1.48 and a debt-to-equity ratio of 0.16.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 4th will be given a $0.523 dividend. This represents a $2.09 annualized dividend and a yield of 2.57%. The ex-dividend date is Wednesday, June 4th. This is an increase from Imperial Oil's previous quarterly dividend of $0.50. Imperial Oil's dividend payout ratio is 31.87%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IMO. Wolfe Research upgraded Imperial Oil from a "peer perform" rating to an "outperform" rating in a research note on Monday, April 21st. Scotiabank upgraded Imperial Oil to a "hold" rating in a research note on Wednesday, March 19th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $101.00 price target on shares of Imperial Oil in a research report on Thursday, April 3rd. Desjardins downgraded shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. Finally, Raymond James Financial restated an "outperform" rating on shares of Imperial Oil in a research report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $106.33.

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.