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

TD Asset Management Inc decreased its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,470,358 shares of the energy company’s stock after selling 123,713 shares during the quarter. TD Asset Management Inc owned about 0.90% of Imperial Oil worth $405,429,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Compound Planning Inc. purchased a new position in shares of Imperial Oil during the 3rd quarter worth $229,000. EverSource Wealth Advisors LLC raised its stake in Imperial Oil by 5.1% during the third quarter. EverSource Wealth Advisors LLC now owns 2,599 shares of the energy company’s stock worth $236,000 after purchasing an additional 127 shares during the period. Citigroup Inc. boosted its holdings in Imperial Oil by 107.1% in the 3rd quarter. Citigroup Inc. now owns 282,428 shares of the energy company’s stock valued at $25,614,000 after purchasing an additional 146,024 shares during the last quarter. Fiera Capital Corp grew its stake in shares of Imperial Oil by 55.5% in the 3rd quarter. Fiera Capital Corp now owns 474,132 shares of the energy company’s stock valued at $42,976,000 after buying an additional 169,321 shares during the period. Finally, NewEdge Wealth LLC increased its holdings in shares of Imperial Oil by 7.5% during the 3rd quarter. NewEdge Wealth LLC now owns 72,657 shares of the energy company’s stock worth $6,465,000 after buying an additional 5,063 shares during the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IMO has been the subject of several analyst reports. Raymond James Financial lowered Imperial Oil from a “hold” rating to a “strong sell” rating in a research report on Monday, December 8th. Royal Bank Of Canada lowered shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price objective on the stock. in a report on Monday. TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a research report on Monday. Finally, BMO Capital Markets lowered shares of Imperial Oil from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. Five equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, Imperial Oil has a consensus rating of “Strong Sell” and an average price target of $116.00.

Imperial Oil Price Performance

IMO opened at $115.68 on Wednesday. The stock’s 50-day moving average price is $100.22 and its 200 day moving average price is $94.22. Imperial Oil Limited has a 12-month low of $58.76 and a 12-month high of $123.52. The firm has a market cap of $55.94 billion, a price-to-earnings ratio of 25.26 and a beta of 0.70. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.18.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 5th will be given a $0.87 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.48 annualized dividend and a yield of 3.0%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.72. Imperial Oil’s dividend payout ratio is 31.26%.

Imperial Oil 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.