TD Asset Management Inc Grows Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Key Points

• TD Asset Management Inc increased its stake in Imperial Oil Limited by 1.0% during the 1st quarter, acquiring an additional 47,898 shares to reach a total of 4,873,843 shares worth $352 million.
• Imperial Oil recently raised its quarterly dividend to $0.523, yielding 2.50% annually, up from the previous $0.50 dividend.
• Several analysts have downgraded Imperial Oil, with Wolfe Research changing its rating from "outperform" to "peer perform" and others adjusting their ratings to "hold" and "strong sell".

TD Asset Management Inc grew its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,873,843 shares of the energy company's stock after acquiring an additional 47,898 shares during the period. TD Asset Management Inc owned 0.96% of Imperial Oil worth $352,014,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in IMO. Wayfinding Financial LLC purchased a new stake in shares of Imperial Oil in the 1st quarter worth approximately $26,000. Group One Trading LLC lifted its position in shares of Imperial Oil by 29.7% in the 4th quarter. Group One Trading LLC now owns 755 shares of the energy company's stock worth $47,000 after purchasing an additional 173 shares during the period. Continuum Advisory LLC purchased a new stake in shares of Imperial Oil in the 1st quarter worth approximately $71,000. AdvisorNet Financial Inc lifted its position in shares of Imperial Oil by 104.0% in the 1st quarter. AdvisorNet Financial Inc now owns 1,275 shares of the energy company's stock worth $92,000 after purchasing an additional 650 shares during the period. Finally, Pacifica Partners Inc. lifted its position in shares of Imperial Oil by 141.1% in the 1st quarter. Pacifica Partners Inc. now owns 2,440 shares of the energy company's stock worth $167,000 after purchasing an additional 1,428 shares during the period. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Trading Down 1.4%

Shares of Imperial Oil stock traded down $1.17 on Wednesday, reaching $84.51. The company had a trading volume of 176,951 shares, compared to its average volume of 460,987. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $86.26. The firm's 50 day moving average price is $78.75 and its two-hundred day moving average price is $71.26. The firm has a market cap of $43.02 billion, a PE ratio of 12.62 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.22 and a current ratio of 1.48.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th were paid a dividend of $0.523 per share. The ex-dividend date was Wednesday, June 4th. This represents a $2.09 dividend on an annualized basis and a yield of 2.48%. This is a boost from Imperial Oil's previous quarterly dividend of $0.50. Imperial Oil's dividend payout ratio is currently 31.87%.

Wall Street Analysts Forecast Growth

IMO has been the subject of a number of analyst reports. Desjardins cut shares of Imperial Oil from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 3rd. Raymond James Financial lowered shares of Imperial Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada restated a "sector perform" rating and set a $101.00 price target on shares of Imperial Oil in a research note on Thursday, April 3rd. Tudor Pickering lowered shares of Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Finally, Wolfe Research lowered shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 23rd. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $105.50.

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.