TD Asset Management Inc Reduces Stake in Imperial Oil Limited $IMO

TD Asset Management Inc lowered its position 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 & Exchange Commission. The fund owned 3,898,254 shares of the energy company’s stock after selling 572,104 shares during the period. TD Asset Management Inc owned approximately 0.81% of Imperial Oil worth $337,228,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its position in Imperial Oil by 5.1% in the 3rd 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 in the last quarter. Root Financial Partners LLC boosted its position in Imperial Oil by 87.8% in the 4th quarter. Root Financial Partners LLC now owns 293 shares of the energy company’s stock worth $25,000 after purchasing an additional 137 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Imperial Oil by 64.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 430 shares of the energy company’s stock worth $40,000 after purchasing an additional 169 shares in the last quarter. NewEdge Advisors LLC boosted its position in Imperial Oil by 1.5% in the 2nd quarter. NewEdge Advisors LLC now owns 12,071 shares of the energy company’s stock worth $959,000 after purchasing an additional 184 shares in the last quarter. Finally, Kathmere Capital Management LLC lifted its position in shares of Imperial Oil by 2.9% during the 4th quarter. Kathmere Capital Management LLC now owns 6,563 shares of the energy company’s stock valued at $566,000 after buying an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on IMO shares. Zacks Research upgraded shares of Imperial Oil from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 24th. Royal Bank Of Canada cut shares of Imperial Oil from a “sector perform” rating to an “underperform” rating and set a $116.00 price objective for the company. in a research report on Monday, February 23rd. Finally, TD Securities restated a “sell” rating on shares of Imperial Oil in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $116.00.

Imperial Oil Price Performance

IMO stock opened at $126.27 on Thursday. The business has a 50 day moving average price of $128.82 and a 200 day moving average price of $112.27. The stock 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 fifty-two week low of $70.99 and a fifty-two week high of $139.44. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 4th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $3.48 annualized dividend and a yield of 2.8%. Imperial Oil’s 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.