Cerity Partners LLC Buys 27,314 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Cerity Partners LLC increased its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 46.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,764 shares of the energy company's stock after buying an additional 27,314 shares during the period. Cerity Partners LLC's holdings in Imperial Oil were worth $6,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Yousif Capital Management LLC purchased a new stake in Imperial Oil in the 1st quarter valued at approximately $226,000. Bessemer Group Inc. raised its position in shares of Imperial Oil by 198.9% in the 1st quarter. Bessemer Group Inc. now owns 23,690 shares of the energy company's stock worth $1,713,000 after buying an additional 15,765 shares during the period. JPMorgan Chase & Co. grew its position in Imperial Oil by 29.0% during the fourth quarter. JPMorgan Chase & Co. now owns 945,002 shares of the energy company's stock valued at $58,212,000 after acquiring an additional 212,707 shares during the period. Stevens Capital Management LP purchased a new position in Imperial Oil in the fourth quarter valued at approximately $258,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Imperial Oil by 8.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 63,193 shares of the energy company's stock valued at $3,893,000 after acquiring an additional 5,181 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Scotiabank upgraded Imperial Oil to a "hold" rating in a report on Wednesday, March 19th. Raymond James Financial cut Imperial Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Desjardins cut Imperial Oil from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 3rd. The Goldman Sachs Group downgraded Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $101.00 price target on shares of Imperial Oil in a report on Thursday, April 3rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $106.33.

Imperial Oil Price Performance

NYSEAMERICAN:IMO traded up $0.28 during mid-day trading on Thursday, reaching $82.33. The stock had a trading volume of 132,216 shares, compared to its average volume of 453,070. The stock has a 50-day simple moving average of $76.67 and a two-hundred day simple moving average of $70.82. The stock has a market capitalization of $41.91 billion, a PE ratio of 12.30 and a beta of 0.89. Imperial Oil Limited has a 12 month low of $58.76 and a 12 month high of $83.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.22.

Imperial Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Wednesday, June 4th were issued a $0.523 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $2.09 annualized dividend and a dividend yield of 2.54%. This is an increase from Imperial Oil's previous quarterly dividend of $0.50. Imperial Oil's dividend payout ratio is currently 31.87%.

About Imperial Oil

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.