Cubist Systematic Strategies LLC Increases Stock Holdings in Imperial Oil Limited $IMO

Key Points

• Cubist Systematic Strategies LLC significantly increased its holdings in Imperial Oil Limited by 287% in Q1, owning 104,128 shares worth approximately $7.53 million.
• Imperial Oil recently increased its quarterly dividend to $0.72 per share, up from $0.52, representing a yield of 3.2%.
• Multiple analysts have downgraded their ratings on Imperial Oil, now reflecting a consensus rating of "Reduce" with an average price target of $105.50.

Cubist Systematic Strategies LLC lifted its holdings in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 287.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 104,128 shares of the energy company's stock after purchasing an additional 77,219 shares during the period. Cubist Systematic Strategies LLC's holdings in Imperial Oil were worth $7,531,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in Imperial Oil in the first quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Imperial Oil by 88.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company's stock valued at $39,000 after acquiring an additional 255 shares during the last quarter. Group One Trading LLC boosted its holdings in Imperial Oil by 29.7% in the fourth quarter. Group One Trading LLC now owns 755 shares of the energy company's stock valued at $47,000 after acquiring an additional 173 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Imperial Oil by 7,136.4% in the first quarter. GAMMA Investing LLC now owns 796 shares of the energy company's stock valued at $580,000 after acquiring an additional 785 shares during the last quarter. Finally, Continuum Advisory LLC bought a new position in Imperial Oil in the first quarter valued at about $71,000. Institutional investors own 20.74% of the company's stock.

Wall Street Analyst Weigh In

IMO has been the topic of several recent research reports. Desjardins cut Imperial Oil from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 3rd. BMO Capital Markets restated an "outperform" rating on shares of Imperial Oil in a report on Monday, August 4th. Tudor Pickering cut Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Zacks Research upgraded Imperial Oil from a "hold" rating to a "strong-buy" rating in a report on Thursday. Finally, Raymond James Financial cut Imperial Oil from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $105.50.

Imperial Oil Trading Down 0.2%

IMO stock traded down $0.19 during mid-day trading on Friday, reaching $87.28. The company's stock had a trading volume of 388,357 shares, compared to its average volume of 348,415. The company has a market cap of $44.22 billion, a price-to-earnings ratio of 13.45 and a beta of 0.94. The business's 50 day moving average price is $84.23 and its 200 day moving average price is $75.11. 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 $91.17.

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 issued a $0.72 dividend. The ex-dividend date is Thursday, September 4th. This is an increase from Imperial Oil's previous quarterly dividend of $0.52. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. Imperial Oil's dividend payout ratio is presently 31.56%.

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.