Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Bought by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV raised its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,793 shares of the energy company’s stock after purchasing an additional 1,707 shares during the quarter. Imperial Oil comprises approximately 0.7% of Azzad Asset Management Inc. ADV’s holdings, making the stock its 23rd biggest holding. Azzad Asset Management Inc. ADV’s holdings in Imperial Oil were worth $6,069,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. First Eagle Investment Management LLC raised its stake in shares of Imperial Oil by 1.4% in the 4th quarter. First Eagle Investment Management LLC now owns 22,495,313 shares of the energy company’s stock valued at $1,281,608,000 after acquiring an additional 316,009 shares during the period. Vanguard Group Inc. raised its stake in shares of Imperial Oil by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,632,262 shares of the energy company’s stock valued at $408,481,000 after acquiring an additional 70,144 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Imperial Oil by 95.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,597,474 shares of the energy company’s stock valued at $376,421,000 after acquiring an additional 3,225,957 shares during the period. TD Asset Management Inc raised its stake in shares of Imperial Oil by 25.7% in the 4th quarter. TD Asset Management Inc now owns 1,124,294 shares of the energy company’s stock valued at $64,357,000 after acquiring an additional 229,953 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in shares of Imperial Oil by 35.6% in the 4th quarter. Point72 Asset Management L.P. now owns 1,120,229 shares of the energy company’s stock valued at $63,913,000 after acquiring an additional 293,910 shares during the period. Institutional investors and hedge funds own 20.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on IMO shares. Raymond James raised shares of Imperial Oil to a “hold” rating in a research note on Tuesday, May 28th. StockNews.com downgraded shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $85.33.

Imperial Oil Price Performance

NYSEAMERICAN IMO traded up $1.22 on Wednesday, hitting $69.93. The stock had a trading volume of 84,688 shares, compared to its average volume of 394,191. Imperial Oil Limited has a one year low of $48.26 and a one year high of $74.58. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.17. The stock has a market cap of $37.47 billion, a price-to-earnings ratio of 10.77 and a beta of 1.47.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings data on Friday, April 26th. The energy company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.10. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. Analysts forecast that Imperial Oil Limited will post 6.29 EPS for the current year.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.4377 per share. This represents a $1.75 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Monday, June 3rd. Imperial Oil’s dividend payout ratio is presently 27.59%.

About Imperial Oil

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.