Toronto Dominion Bank Lowers Holdings in Imperial Oil Limited (NYSEAMERICAN:IMO)

Toronto Dominion Bank reduced its stake in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 14.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 650,661 shares of the energy company's stock after selling 107,802 shares during the quarter. Toronto Dominion Bank owned about 0.13% of Imperial Oil worth $40,050,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IMO. Wingate Wealth Advisors Inc. bought a new stake in Imperial Oil in the fourth quarter valued at $41,000. Group One Trading LLC increased its position in Imperial Oil by 29.7% in the 4th quarter. Group One Trading LLC now owns 755 shares of the energy company's stock valued at $47,000 after buying an additional 173 shares in the last quarter. Allworth Financial LP raised its stake in Imperial Oil by 21.0% during the 4th quarter. Allworth Financial LP now owns 1,630 shares of the energy company's stock worth $100,000 after buying an additional 283 shares during the period. Natixis acquired a new stake in Imperial Oil in the fourth quarter valued at approximately $190,000. Finally, Quantbot Technologies LP acquired a new stake in Imperial Oil in the fourth quarter valued at approximately $193,000. Institutional investors and hedge funds own 20.74% of the company's stock.

Imperial Oil Stock Performance

Shares of IMO stock traded up $0.10 during trading hours on Friday, hitting $71.31. 108,445 shares of the company were exchanged, compared to its average volume of 449,200. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $36.30 billion, a price-to-earnings ratio of 10.81 and a beta of 1.44. The firm has a fifty day simple moving average of $68.37 and a 200 day simple moving average of $69.86. Imperial Oil Limited has a 52-week low of $58.76 and a 52-week high of $80.17.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.523 per share. This represents a $2.09 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a positive change from Imperial Oil's previous quarterly dividend of $0.50. Imperial Oil's dividend payout ratio (DPR) is currently 25.80%.

Analysts Set New Price Targets

Several brokerages have weighed in on IMO. The Goldman Sachs Group cut Imperial Oil from a "neutral" rating to a "sell" rating in a research note on Thursday, March 27th. Raymond James reissued an "outperform" rating on shares of Imperial Oil in a research report on Monday, May 5th. Wolfe Research upgraded shares of Imperial Oil from a "peer perform" rating to an "outperform" rating in a report on Monday, April 21st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $101.00 price objective on shares of Imperial Oil in a research note on Thursday, April 3rd. Finally, Scotiabank upgraded Imperial Oil to a "hold" rating in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $106.33.

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.