Erste Asset Management GmbH Purchases Shares of 127,050 Imperial Oil Limited (NYSEAMERICAN:IMO)

Erste Asset Management GmbH acquired a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) in the 3rd quarter, Holdings Channel reports. The fund acquired 127,050 shares of the energy company’s stock, valued at approximately $8,917,000.

A number of other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in Imperial Oil by 8.8% during the first quarter. EverSource Wealth Advisors LLC now owns 3,145 shares of the energy company’s stock worth $216,000 after purchasing an additional 255 shares during the last quarter. Baker Ellis Asset Management LLC bought a new stake in Imperial Oil during the 2nd quarter worth about $423,000. CWM LLC boosted its stake in shares of Imperial Oil by 8.7% during the 2nd quarter. CWM LLC now owns 2,319 shares of the energy company’s stock worth $158,000 after buying an additional 185 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Imperial Oil in the 2nd quarter valued at about $3,064,000. Finally, OLD National Bancorp IN increased its position in shares of Imperial Oil by 5.6% in the second quarter. OLD National Bancorp IN now owns 3,831 shares of the energy company’s stock valued at $261,000 after acquiring an additional 204 shares during the last quarter. 20.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on IMO. Scotiabank reissued a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a research report on Wednesday, September 25th. StockNews.com downgraded Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $109.00.

Imperial Oil Trading Up 1.1 %

Imperial Oil stock opened at $73.92 on Monday. The stock has a market cap of $38.28 billion, a P/E ratio of 11.02 and a beta of 1.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.23. Imperial Oil Limited has a 52 week low of $52.97 and a 52 week high of $80.17.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.4304 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Tuesday, December 3rd. Imperial Oil’s payout ratio is presently 26.53%.

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.