Cresset Asset Management LLC Takes Position in Imperial Oil Limited $IMO

Key Points

• Cresset Asset Management LLC invested $310,000 in Imperial Oil Limited, acquiring 4,262 shares in the first quarter.
• Multiple institutional investors have increased their stakes in Imperial Oil, including Mackenzie Financial Corp, which raised its holdings by 54.7%.
• Analysts have recently downgraded Imperial Oil ratings, with Wolfe Research moving from "outperform" to "peer perform" and Desjardins changing from "hold" to "strong sell."

Cresset Asset Management LLC purchased a new stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,262 shares of the energy company's stock, valued at approximately $310,000.

Several other institutional investors also recently added to or reduced their stakes in IMO. Yousif Capital Management LLC purchased a new stake in Imperial Oil during the first quarter valued at about $226,000. Bessemer Group Inc. lifted its holdings in Imperial Oil by 198.9% during the first quarter. Bessemer Group Inc. now owns 23,690 shares of the energy company's stock valued at $1,713,000 after purchasing an additional 15,765 shares during the last quarter. LPL Financial LLC lifted its holdings in Imperial Oil by 68.6% during the first quarter. LPL Financial LLC now owns 79,692 shares of the energy company's stock valued at $5,763,000 after purchasing an additional 32,437 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Imperial Oil by 7.7% during the first quarter. Principal Financial Group Inc. now owns 16,796 shares of the energy company's stock valued at $1,213,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Vise Technologies Inc. lifted its holdings in Imperial Oil by 70.2% during the fourth quarter. Vise Technologies Inc. now owns 13,002 shares of the energy company's stock valued at $801,000 after purchasing an additional 5,361 shares during the last quarter. Institutional investors own 20.74% of the company's stock.

Imperial Oil Stock Up 0.8%

IMO traded up $0.68 during trading on Thursday, hitting $90.50. 484,811 shares of the company's stock traded hands, compared to its average volume of 357,206. The company's 50 day simple moving average is $83.14 and its two-hundred day simple moving average is $74.22. The company has a current ratio of 1.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. Imperial Oil Limited has a 12-month low of $58.76 and a 12-month high of $90.64. The stock has a market capitalization of $45.85 billion, a price-to-earnings ratio of 13.94 and a beta of 0.92.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.72 per share. The ex-dividend date is Thursday, September 4th. This represents a $2.88 annualized dividend and a yield of 3.2%. This is a positive change from Imperial Oil's previous quarterly dividend of $0.52. Imperial Oil's dividend payout ratio (DPR) is 31.87%.

Analysts Set New Price Targets

IMO has been the topic of several recent research reports. Desjardins downgraded shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. Raymond James Financial downgraded shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 3rd. Wolfe Research cut Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, July 23rd. Tudor Pickering cut Imperial Oil from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Imperial Oil in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Imperial Oil currently has a consensus rating of "Reduce" and an average price target of $105.50.

Imperial Oil Company 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.