Toronto Dominion Bank Sells 583,247 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Toronto Dominion Bank cut its stake in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 44.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 717,273 shares of the energy company’s stock after selling 583,247 shares during the quarter. Toronto Dominion Bank owned approximately 0.13% of Imperial Oil worth $49,585,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Chou Associates Management Inc. bought a new position in Imperial Oil during the first quarter worth about $353,000. Bessemer Group Inc. increased its position in Imperial Oil by 1,250.9% during the first quarter. Bessemer Group Inc. now owns 7,849 shares of the energy company’s stock worth $542,000 after acquiring an additional 7,268 shares during the period. UniSuper Management Pty Ltd increased its position in Imperial Oil by 68.8% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the energy company’s stock worth $187,000 after acquiring an additional 1,100 shares during the period. Seven Eight Capital LP bought a new position in Imperial Oil during the first quarter worth about $466,000. Finally, Intech Investment Management LLC bought a new position in Imperial Oil during the first quarter worth about $720,000. 20.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IMO has been the topic of a number of recent research reports. Raymond James raised shares of Imperial Oil to a “hold” rating in a research report on Tuesday, May 28th. Scotiabank lowered their price target on shares of Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. StockNews.com lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a report on Monday, July 1st. Finally, Wolfe Research assumed coverage on shares of Imperial Oil in a report on Thursday, July 18th. They issued an “outperform” rating and a $108.00 target price on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Imperial Oil has a consensus rating of “Hold” and an average target price of $94.80.

Imperial Oil Stock Up 0.5 %

NYSEAMERICAN:IMO traded up $0.38 during mid-day trading on Friday, hitting $70.98. 239,898 shares of the company’s stock were exchanged, compared to its average volume of 386,310. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.04. Imperial Oil Limited has a fifty-two week low of $51.23 and a fifty-two week high of $74.58. The company has a market cap of $38.03 billion, a PE ratio of 11.13 and a beta of 1.47.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its earnings results on Friday, April 26th. The energy company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.55 by $0.10. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $11.61 billion. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. On average, research analysts anticipate that Imperial Oil Limited will post 6.22 earnings per share for the current year.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.4377 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.75 annualized dividend and a dividend yield of 2.47%. Imperial Oil’s dividend payout ratio is currently 27.59%.

Imperial Oil Company 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.