Toronto Dominion Bank Sells 64,015 Shares of Imperial Oil Limited (NYSEAMERICAN:IMO)

Toronto Dominion Bank lowered its position in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 7.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 758,463 shares of the energy company’s stock after selling 64,015 shares during the quarter. Toronto Dominion Bank owned approximately 0.15% of Imperial Oil worth $53,434,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. RFP Financial Group LLC bought a new stake in Imperial Oil in the 2nd quarter valued at $25,000. BNP Paribas Financial Markets bought a new stake in shares of Imperial Oil during the 3rd quarter worth about $28,000. Grove Bank & Trust grew its stake in Imperial Oil by 438.0% in the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock valued at $38,000 after buying an additional 438 shares during the last quarter. Allworth Financial LP raised its holdings in Imperial Oil by 21.0% in the 3rd quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock valued at $95,000 after acquiring an additional 234 shares during the period. Finally, Oakworth Capital Inc. bought a new stake in shares of Imperial Oil during the third quarter worth approximately $101,000. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Price Performance

Shares of NYSEAMERICAN IMO opened at $73.40 on Thursday. Imperial Oil Limited has a 12-month low of $52.97 and a 12-month high of $80.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44. The firm has a market cap of $38.01 billion, a P/E ratio of 10.93 and a beta of 1.42.

Imperial Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be given a $0.4304 dividend. This represents a $1.72 annualized dividend and a yield of 2.35%. The ex-dividend date is Tuesday, December 3rd. Imperial Oil’s payout ratio is currently 26.38%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Scotiabank reissued a “sector perform” rating and issued a $110.00 price objective on shares of Imperial Oil in a report on Wednesday, September 25th. StockNews.com downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th.

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.