Azzad Asset Management Inc. ADV Sells 40,204 Shares of Imperial Oil Limited $IMO

Azzad Asset Management Inc. ADV lessened its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 54.1% during the first quarter, HoldingsChannel.com reports. The fund owned 34,120 shares of the energy company’s stock after selling 40,204 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Imperial Oil were worth $4,464,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of IMO. Root Financial Partners LLC boosted its holdings in shares of Imperial Oil by 87.8% in the fourth quarter. Root Financial Partners LLC now owns 293 shares of the energy company’s stock worth $25,000 after buying an additional 137 shares during the last quarter. McMillan Office Inc. bought a new position in Imperial Oil in the 4th quarter worth $26,000. Smartleaf Asset Management LLC grew its position in shares of Imperial Oil by 23.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 531 shares of the energy company’s stock worth $46,000 after purchasing an additional 101 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Imperial Oil by 737.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 511 shares of the energy company’s stock valued at $46,000 after buying an additional 450 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Imperial Oil during the 3rd quarter valued at approximately $54,000. Institutional investors own 20.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IMO. Scotiabank raised shares of Imperial Oil to a “hold” rating in a report on Friday, June 26th. Imperial Capital reaffirmed a “sell” rating on shares of Imperial Oil in a research note on Tuesday, June 23rd. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a report on Wednesday, May 13th. Finally, Zacks Research cut shares of Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Five research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $116.00.

Imperial Oil Stock Performance

IMO stock opened at $120.00 on Friday. Imperial Oil Limited has a twelve month low of $78.87 and a twelve month high of $139.44. The business’s fifty day simple moving average is $122.99 and its two-hundred day simple moving average is $116.41. The firm has a market cap of $58.03 billion, a price-to-earnings ratio of 28.30 and a beta of 0.45. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.

Imperial Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Thursday, June 4th were paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, June 4th. Imperial Oil’s payout ratio is currently 38.24%.

Imperial Oil Company Profile

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.