CoreCommodity Management LLC Purchases 2,272 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

CoreCommodity Management LLC increased its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 28.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,170 shares of the energy company’s stock after purchasing an additional 2,272 shares during the quarter. CoreCommodity Management LLC’s holdings in Imperial Oil were worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Signaturefd LLC boosted its position in shares of Imperial Oil by 2.0% in the 4th quarter. Signaturefd LLC now owns 7,648 shares of the energy company’s stock worth $471,000 after purchasing an additional 150 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Imperial Oil by 4.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,916 shares of the energy company’s stock valued at $241,000 after buying an additional 163 shares during the last quarter. Gold Investment Management Ltd. boosted its holdings in Imperial Oil by 0.7% in the fourth quarter. Gold Investment Management Ltd. now owns 27,904 shares of the energy company’s stock worth $1,719,000 after acquiring an additional 186 shares in the last quarter. OLD National Bancorp IN grew its stake in shares of Imperial Oil by 5.0% in the fourth quarter. OLD National Bancorp IN now owns 3,920 shares of the energy company’s stock worth $241,000 after acquiring an additional 187 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Imperial Oil by 21.0% during the fourth quarter. Allworth Financial LP now owns 1,630 shares of the energy company’s stock valued at $100,000 after acquiring an additional 283 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Trading Up 1.0 %

Shares of IMO stock opened at $68.39 on Wednesday. The stock has a market capitalization of $34.81 billion, a P/E ratio of 10.38 and a beta of 1.44. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $67.44 and its 200 day moving average is $69.71. Imperial Oil Limited has a 12-month low of $58.76 and a 12-month high of $80.17.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th will be issued a $0.523 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $2.09 annualized dividend and a dividend yield of 3.06%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.50. Imperial Oil’s payout ratio is presently 25.80%.

Analyst Upgrades and Downgrades

Several analysts recently commented on IMO shares. Wolfe Research raised shares of Imperial Oil from a “peer perform” rating to an “outperform” rating in a research report on Monday, April 21st. The Goldman Sachs Group downgraded shares of Imperial Oil from a “neutral” rating to a “sell” rating in a research report on Thursday, March 27th. Raymond James raised Imperial Oil from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 9th. Scotiabank raised Imperial Oil to a “hold” rating in a report on Wednesday, March 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $101.00 price target on shares of Imperial Oil in a report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Imperial Oil presently has an average rating of “Hold” and an average target price of $106.33.

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.