Cerity Partners LLC Has $4.34 Million Stock Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Cerity Partners LLC raised its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 95.5% during the third quarter, Holdings Channel.com reports. The fund owned 61,659 shares of the energy company’s stock after purchasing an additional 30,127 shares during the period. Cerity Partners LLC’s holdings in Imperial Oil were worth $4,344,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Imperial Oil by 10,896.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock valued at $59,135,000 after acquiring an additional 859,288 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Imperial Oil in the second quarter valued at about $40,729,000. TD Asset Management Inc raised its position in shares of Imperial Oil by 12.2% during the second quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock worth $258,817,000 after purchasing an additional 412,600 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Imperial Oil by 9.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,107,250 shares of the energy company’s stock valued at $148,235,000 after purchasing an additional 187,158 shares during the period. Finally, SIR Capital Management L.P. bought a new stake in Imperial Oil during the 2nd quarter worth approximately $11,405,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Price Performance

Shares of NYSEAMERICAN:IMO opened at $73.14 on Friday. The stock has a market cap of $37.88 billion, a price-to-earnings ratio of 10.90 and a beta of 1.44. The company has a current ratio of 1.44, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. Imperial Oil Limited has a one year low of $52.97 and a one year high of $80.17.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be paid a $0.4304 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a yield of 2.35%. Imperial Oil’s dividend payout ratio is 26.53%.

Wall Street Analysts Forecast Growth

IMO has been the subject of several research analyst reports. Scotiabank reiterated a “sector perform” rating and issued a $110.00 price target on shares of Imperial Oil in a report on Wednesday, September 25th. StockNews.com lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Imperial Oil has an average rating of “Hold” and an average price target of $109.00.

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.