Imperial Oil Limited (NYSEAMERICAN:IMO) Stake Reduced by Toronto Dominion Bank

Toronto Dominion Bank lessened its position in Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO by 14.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 650,661 shares of the energy company's stock after selling 107,802 shares during the period. Toronto Dominion Bank owned about 0.13% of Imperial Oil worth $40,050,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of IMO. Quantinno Capital Management LP boosted its stake in Imperial Oil by 1.0% in the 4th quarter. Quantinno Capital Management LP now owns 65,518 shares of the energy company's stock worth $4,036,000 after buying an additional 666 shares during the last quarter. Jefferies Financial Group Inc. lifted its holdings in shares of Imperial Oil by 59.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 200,053 shares of the energy company's stock worth $12,322,000 after acquiring an additional 74,533 shares during the period. Group One Trading LLC boosted its position in shares of Imperial Oil by 29.7% in the fourth quarter. Group One Trading LLC now owns 755 shares of the energy company's stock worth $47,000 after acquiring an additional 173 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in Imperial Oil by 15.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 63,878 shares of the energy company's stock valued at $3,935,000 after purchasing an additional 8,588 shares during the period. Finally, CoreCommodity Management LLC increased its position in Imperial Oil by 28.8% during the fourth quarter. CoreCommodity Management LLC now owns 10,170 shares of the energy company's stock worth $626,000 after purchasing an additional 2,272 shares during the last quarter. Institutional investors and hedge funds own 20.74% of the company's stock.

Analyst Upgrades and Downgrades

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

Imperial Oil Stock Down 1.2%

IMO traded down $0.84 on Thursday, reaching $71.21. The company's stock had a trading volume of 325,423 shares, compared to its average volume of 449,748. The stock has a market cap of $36.25 billion, a price-to-earnings ratio of 10.81 and a beta of 1.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.23. The business's 50 day moving average is $68.33 and its 200 day moving average is $69.85. Imperial Oil Limited has a 1 year low of $58.76 and a 1 year high of $80.17.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Wednesday, June 4th will be issued a $0.523 dividend. The ex-dividend date is Wednesday, June 4th. This is a boost from Imperial Oil's previous quarterly dividend of $0.50. This represents a $2.09 annualized dividend and a yield of 2.94%. Imperial Oil's dividend payout ratio is currently 25.80%.

Imperial Oil Profile

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.