Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Imperial Oil Limited $IMO

Key Points

• Zurcher Kantonalbank increased its stake in Imperial Oil by 30.9% in Q4 to 153,539 shares, valued at about $13.28 million.
• Imperial Oil raised its quarterly dividend to $0.87 (annualized $3.48), implying a yield of 2.8% and a payout ratio of about 38.7%.
• Analysts are mixed: MarketBeat shows an average rating of "Reduce" with an average target price of $116, while the stock trades near $125.20 and has a market cap of about $60.6 billion.

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 30.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 153,539 shares of the energy company's stock after purchasing an additional 36,267 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Imperial Oil were worth $13,282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in shares of Imperial Oil by 5.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,599 shares of the energy company's stock valued at $236,000 after purchasing an additional 127 shares during the last quarter. Gold Investment Management Ltd. raised its position in shares of Imperial Oil by 0.6% in the 3rd quarter. Gold Investment Management Ltd. now owns 28,322 shares of the energy company's stock valued at $2,568,000 after purchasing an additional 161 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Imperial Oil by 0.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 21,470 shares of the energy company's stock valued at $1,949,000 after purchasing an additional 166 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Imperial Oil by 64.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company's stock valued at $40,000 after purchasing an additional 169 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Imperial Oil by 1.5% in the 2nd quarter. NewEdge Advisors LLC now owns 12,071 shares of the energy company's stock valued at $959,000 after purchasing an additional 184 shares during the last quarter. 20.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IMO has been the subject of several research analyst reports. Zacks Research raised shares of Imperial Oil from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 24th. TD Securities reissued a "sell" rating on shares of Imperial Oil in a research report on Monday, February 23rd. Finally, Royal Bank Of Canada lowered shares of Imperial Oil from a "sector perform" rating to an "underperform" rating and set a $116.00 price target for the company. in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $116.00.

Imperial Oil Price Performance

Shares of NYSEAMERICAN IMO opened at $125.20 on Thursday. The stock has a market capitalization of $60.55 billion, a price-to-earnings ratio of 27.34 and a beta of 0.58. Imperial Oil Limited has a 12 month low of $66.45 and a 12 month high of $133.37. The firm's 50 day simple moving average is $123.77 and its 200-day simple moving average is $104.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.27 and a quick ratio of 0.94.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Thursday, March 5th were paid a $0.87 dividend. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. This is an increase from Imperial Oil's previous quarterly dividend of $0.72. Imperial Oil's dividend payout ratio is 38.69%.

About Imperial Oil

Imperial Oil NYSEAMERICAN: IMO is a Canadian integrated energy company involved in the exploration, production, refining and marketing of petroleum and petrochemical products. Headquartered in Calgary, Alberta, Imperial has operated in Canada for well over a century and is one of the country's long-standing energy firms. The company is majority-owned by Exxon Mobil Corporation, which provides strategic and technical links to global upstream and downstream capabilities.

Imperial's operations span upstream activities—exploration and production of crude oil, natural gas and oil-sands resources—and downstream operations including refining, manufacturing of fuels and lubricants, petrochemical products, and retail distribution.

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