TD Asset Management Inc Lowers Stock Position in Imperial Oil Limited $IMO

TD Asset Management Inc lowered its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,594,071 shares of the energy company’s stock after selling 279,772 shares during the quarter. TD Asset Management Inc owned about 0.90% of Imperial Oil worth $364,226,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IMO. Wayfinding Financial LLC bought a new position in shares of Imperial Oil during the first quarter valued at $26,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Imperial Oil by 88.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the energy company’s stock valued at $39,000 after acquiring an additional 255 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Imperial Oil by 7,136.4% during the first quarter. GAMMA Investing LLC now owns 796 shares of the energy company’s stock valued at $580,000 after acquiring an additional 785 shares in the last quarter. Continuum Advisory LLC bought a new position in shares of Imperial Oil during the first quarter valued at $71,000. Finally, Banque Transatlantique SA bought a new position in shares of Imperial Oil during the first quarter valued at $87,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on IMO. Royal Bank Of Canada raised their price target on Imperial Oil from $108.00 to $115.00 and gave the company a “sector perform” rating in a report on Thursday, September 25th. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 23rd. Tudor Pickering downgraded Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Raymond James Financial downgraded Imperial Oil from a “moderate buy” rating to a “hold” rating in a report on Thursday, July 3rd. Finally, Zacks Research downgraded Imperial Oil from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $115.00.

Imperial Oil Price Performance

NYSEAMERICAN IMO opened at $88.25 on Tuesday. Imperial Oil Limited has a one year low of $58.76 and a one year high of $96.09. The stock has a 50-day moving average of $88.84 and a 200 day moving average of $79.34. The company has a market capitalization of $44.30 billion, a price-to-earnings ratio of 13.60 and a beta of 0.83. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.58.

Imperial Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Thursday, September 4th were paid a dividend of $0.72 per share. The ex-dividend date was Thursday, September 4th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Imperial Oil’s previous quarterly dividend of $0.52. Imperial Oil’s dividend payout ratio is presently 31.87%.

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.