Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO - Analysts at Zacks Research increased their FY2024 earnings estimates for shares of Imperial Oil in a research report issued to clients and investors on Thursday, January 23rd. Zacks Research analyst R. Department now anticipates that the energy company will earn $6.23 per share for the year, up from their previous forecast of $6.21. The consensus estimate for Imperial Oil's current full-year earnings is $6.29 per share. Zacks Research also issued estimates for Imperial Oil's Q4 2024 earnings at $1.33 EPS, Q1 2025 earnings at $1.04 EPS, Q2 2025 earnings at $1.03 EPS, Q3 2025 earnings at $1.13 EPS, Q3 2026 earnings at $1.10 EPS and FY2026 earnings at $5.86 EPS.
Several other research analysts have also recently weighed in on the company. Wolfe Research cut Imperial Oil from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. cut Imperial Oil from a "neutral" rating to an "underweight" rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $109.00.
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Imperial Oil Stock Performance
Shares of NYSEAMERICAN IMO traded down $1.27 during midday trading on Friday, hitting $70.30. The stock had a trading volume of 272,480 shares, compared to its average volume of 592,725. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.23. The company has a market cap of $35.79 billion, a PE ratio of 10.48 and a beta of 1.45. Imperial Oil has a 1 year low of $55.74 and a 1 year high of $80.17.
Imperial Oil Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.4304 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Tuesday, December 3rd. Imperial Oil's dividend payout ratio is presently 25.34%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in IMO. FMR LLC increased its holdings in shares of Imperial Oil by 3.7% in the 3rd 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 valued at $311,175,000 after purchasing an additional 341,689 shares in the last quarter. Point72 Europe London LLP increased its stake in Imperial Oil by 131.2% in the third quarter. Point72 Europe London LLP now owns 356,972 shares of the energy company's stock valued at $25,134,000 after purchasing an additional 202,590 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Imperial Oil by 9.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,107,250 shares of the energy company's stock worth $148,235,000 after purchasing an additional 187,158 shares in the last quarter. Finally, Bridgewater Associates LP lifted its position in shares of Imperial Oil by 522.8% during the 3rd quarter. Bridgewater Associates LP now owns 201,126 shares of the energy company's stock worth $14,166,000 after buying an additional 168,831 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company's stock.
About Imperial Oil
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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.
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