Imperial Oil Limited $IMO Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,898,254 shares of the energy company’s stock after selling 572,104 shares during the period. TD Asset Management Inc’s holdings in Imperial Oil were worth $337,228,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Argent Trust Co acquired a new position in shares of Imperial Oil in the third quarter valued at approximately $2,308,000. MAI Capital Management grew its holdings in Imperial Oil by 2,776.1% during the third quarter. MAI Capital Management now owns 10,929 shares of the energy company’s stock worth $992,000 after acquiring an additional 10,549 shares during the period. Envestnet Asset Management Inc. grew its holdings in Imperial Oil by 13.9% during the third quarter. Envestnet Asset Management Inc. now owns 84,287 shares of the energy company’s stock worth $7,648,000 after acquiring an additional 10,299 shares during the period. Swiss Life Asset Management Ltd grew its holdings in Imperial Oil by 88.4% during the third quarter. Swiss Life Asset Management Ltd now owns 36,253 shares of the energy company’s stock worth $3,290,000 after acquiring an additional 17,011 shares during the period. Finally, Caprock Group LLC acquired a new position in Imperial Oil during the third quarter worth $1,852,000. Institutional investors and hedge funds own 20.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Zacks Research raised Imperial Oil from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. Royal Bank Of Canada lowered 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, February 23rd. Finally, TD Securities reaffirmed a “sell” rating on shares of Imperial Oil in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $116.00.

Imperial Oil Stock Up 1.5%

IMO opened at $126.27 on Thursday. The business’s fifty day moving average is $128.82 and its two-hundred day moving average is $112.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.23. The company has a market cap of $61.06 billion, a price-to-earnings ratio of 29.78 and a beta of 0.43. Imperial Oil Limited has a one year low of $70.99 and a one year high of $139.44.

Imperial Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 4th will be given a dividend of $0.87 per share. The ex-dividend date is Thursday, June 4th. This represents a $3.48 annualized dividend and a yield of 2.8%. Imperial Oil’s dividend payout ratio is 38.69%.

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.