Imperial Oil Limited (NYSEAMERICAN:IMO) Stake Boosted by TD Asset Management Inc.

TD Asset Management Inc. increased its position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 2.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,825,945 shares of the energy company’s stock after buying an additional 105,970 shares during the quarter. TD Asset Management Inc.’s holdings in Imperial Oil were worth $297,268,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of IMO. FMR LLC lifted its stake in Imperial Oil by 3.7% in the third quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock valued at $2,598,604,000 after acquiring an additional 1,331,235 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Imperial Oil by 8.4% in the third quarter. The Manufacturers Life Insurance Company now owns 4,420,002 shares of the energy company’s stock worth $311,175,000 after purchasing an additional 341,689 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Imperial Oil by 9.1% in the third quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company’s stock worth $59,502,000 after purchasing an additional 70,357 shares in the last quarter. National Bank of Canada FI increased its position in Imperial Oil by 13.3% during the third quarter. National Bank of Canada FI now owns 751,038 shares of the energy company’s stock worth $52,885,000 after buying an additional 87,914 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Imperial Oil by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 548,554 shares of the energy company’s stock valued at $38,630,000 after buying an additional 16,555 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $109.00.

Imperial Oil Price Performance

IMO stock opened at $72.79 on Tuesday. The company has a market capitalization of $37.05 billion, a PE ratio of 11.05 and a beta of 1.44. The company’s 50-day moving average price is $68.66. Imperial Oil Limited has a 52-week low of $60.95 and a 52-week high of $80.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.23.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Wednesday, March 5th will be paid a dividend of $0.4972 per share. This is an increase from Imperial Oil’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.99 annualized dividend and a yield of 2.73%. Imperial Oil’s dividend payout ratio is presently 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.