TD Asset Management Inc Purchases 412,600 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

TD Asset Management Inc boosted its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 12.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,796,660 shares of the energy company’s stock after purchasing an additional 412,600 shares during the period. TD Asset Management Inc’s holdings in Imperial Oil were worth $258,817,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new stake in Imperial Oil during the second quarter valued at approximately $3,064,000. US Bancorp DE lifted its position in shares of Imperial Oil by 91.6% in the first quarter. US Bancorp DE now owns 20,210 shares of the energy company’s stock valued at $1,397,000 after acquiring an additional 9,660 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Imperial Oil in the first quarter worth about $720,000. Bessemer Group Inc. grew its position in shares of Imperial Oil by 1,250.9% during the first quarter. Bessemer Group Inc. now owns 7,849 shares of the energy company’s stock worth $542,000 after purchasing an additional 7,268 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in Imperial Oil during the 1st quarter valued at approximately $931,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IMO shares. Wolfe Research assumed coverage on Imperial Oil in a report on Thursday, July 18th. They issued an “outperform” rating and a $108.00 target price on the stock. Scotiabank decreased their price objective on Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. StockNews.com cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Raymond James raised shares of Imperial Oil to a “hold” rating in a research note on Tuesday, May 28th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $99.50.

Imperial Oil Stock Up 0.9 %

NYSEAMERICAN:IMO opened at $71.68 on Thursday. The company has a market capitalization of $38.23 billion, a PE ratio of 11.13 and a beta of 1.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.40 and a quick ratio of 1.16. Imperial Oil Limited has a 1 year low of $52.97 and a 1 year high of $77.70.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings data on Friday, August 2nd. The energy company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.43 by $0.11. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. The company had revenue of $9.78 billion during the quarter, compared to analyst estimates of $10.50 billion. Research analysts anticipate that Imperial Oil Limited will post 6.29 EPS for the current fiscal year.

Imperial Oil Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Wednesday, September 4th will be issued a dividend of $0.4336 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.73 annualized dividend and a yield of 2.42%. Imperial Oil’s payout ratio is 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.