TD Waterhouse Canada Inc. Sells 45,283 Shares of Imperial Oil Limited $IMO

Key Points

• TD Waterhouse Canada reduced its Imperial Oil stake by 6%, selling 45,283 shares and retaining 711,032 shares valued at approximately $79.0 million. Institutional investors own 20.74% of the company.
• Imperial Oil reported quarterly EPS of $4.52, well above the $2.99 consensus estimate, while revenue rose 43% year over year to $11.31 billion. The company also declared a quarterly dividend of $0.87, equivalent to a 2.6% annualized yield.
• Analyst sentiment remains cautious, with four Hold and five Sell ratings producing a “Strong Sell” consensus and an average price target of $116, below the stock’s reported $131.94 price.

TD Waterhouse Canada Inc. trimmed its stake in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 6.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 711,032 shares of the energy company's stock after selling 45,283 shares during the period. TD Waterhouse Canada Inc. owned approximately 0.15% of Imperial Oil worth $78,964,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nykredit A S purchased a new stake in Imperial Oil in the second quarter worth approximately $1,040,000. Public Employees Retirement System of Ohio purchased a new stake in Imperial Oil during the 2nd quarter valued at $1,180,000. Bank of New York Mellon Corp purchased a new stake in Imperial Oil during the 2nd quarter valued at $24,051,000. CoreCap Advisors LLC lifted its holdings in shares of Imperial Oil by 20.5% during the 2nd quarter. CoreCap Advisors LLC now owns 954 shares of the energy company's stock valued at $107,000 after buying an additional 162 shares during the period. Finally, Eastern Bank lifted its holdings in shares of Imperial Oil by 100.0% during the 2nd quarter. Eastern Bank now owns 1,000 shares of the energy company's stock valued at $112,000 after buying an additional 500 shares during the period. Institutional investors own 20.74% of the company's stock.

Imperial Oil Trading Down 1.1%

Shares of Imperial Oil stock opened at $131.94 on Friday. The company's fifty day simple moving average is $126.13 and its 200-day simple moving average is $125.11. The stock has a market capitalization of $63.54 billion, a PE ratio of 21.40 and a beta of 0.46. Imperial Oil Limited has a 1-year low of $83.27 and a 1-year high of $139.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.38 and a quick ratio of 1.19.

Imperial Oil (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO last posted its quarterly earnings data on Friday, July 31st. The energy company reported $4.52 EPS for the quarter, topping the consensus estimate of $2.99 by $1.53. Imperial Oil had a return on equity of 22.28% and a net margin of 8.03%.The firm had revenue of $11.31 billion during the quarter, compared to analyst estimates of $10.92 billion. During the same period in the prior year, the business posted $1.86 EPS. Imperial Oil's revenue was up 43.0% on a year-over-year basis. As a group, equities analysts anticipate that Imperial Oil Limited will post 11.19 earnings per share for the current year.

Imperial Oil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be given a $0.87 dividend. The ex-dividend date is Friday, September 4th. This represents a $3.48 dividend on an annualized basis and a yield of 2.6%. Imperial Oil's dividend payout ratio is presently 38.24%.

Analysts Set New Price Targets

IMO has been the subject of several research analyst reports. TD Securities reaffirmed a "sell" rating on shares of Imperial Oil in a report on Wednesday, August 5th. Imperial Capital reissued a "sell" rating on shares of Imperial Oil in a report on Tuesday, June 23rd. Scotiabank reissued a "sector perform" rating on shares of Imperial Oil in a research report on Friday, July 17th. Desjardins upgraded Imperial Oil to a "hold" rating in a research note on Thursday, July 16th. Finally, Zacks Research downgraded Imperial Oil from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Four research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Strong Sell" and an average target price of $116.00.

Imperial Oil 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.

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