TD Waterhouse Canada Inc. Decreases Stake in Imperial Oil Limited $IMO

Key Points

• TD Waterhouse cut its stake in Imperial Oil by 9.5% in Q4, selling 55,239 shares and now holding 527,608 shares worth about $45.37 million (≈0.11% of the company).
• Analyst sentiment is negative with a MarketBeat consensus of "Reduce" and an average price target of $116, as RBC and TD Securities downgraded the stock while Zacks upgraded it to a "strong-buy".
• Imperial raised its quarterly dividend to $0.87 (annualized $3.48), representing a 2.9% yield and a payout ratio of about 38.7%.

TD Waterhouse Canada Inc. lowered its position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 9.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 527,608 shares of the energy company's stock after selling 55,239 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.11% of Imperial Oil worth $45,365,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings 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 acquiring an additional 127 shares during the last quarter. Gold Investment Management Ltd. increased its holdings in Imperial Oil by 0.6% in the 3rd quarter. Gold Investment Management Ltd. now owns 28,322 shares of the energy company's stock worth $2,568,000 after acquiring an additional 161 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Imperial Oil by 0.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 21,470 shares of the energy company's stock worth $1,949,000 after acquiring an additional 166 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings 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 acquiring an additional 169 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings 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 acquiring an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company's stock.

Wall Street Analyst Weigh In

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

Imperial Oil Price Performance

Shares of NYSEAMERICAN IMO opened at $121.94 on Monday. Imperial Oil Limited has a 52 week low of $63.20 and a 52 week high of $133.37. The business has a 50-day simple moving average of $123.30 and a two-hundred day simple moving average of $103.79. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.18. The company has a market cap of $58.97 billion, a P/E ratio of 26.62 and a beta of 0.58.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Thursday, March 5th were given a dividend of $0.87 per share. This is a boost from Imperial Oil's previous quarterly dividend of $0.72. The ex-dividend date was Thursday, March 5th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.9%. Imperial Oil's dividend payout ratio is 38.69%.

About Imperial Oil

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.

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