Analysts Set Expectations for Imperial Oil FY2024 Earnings

Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO - Stock analysts at Zacks Research increased their FY2024 earnings estimates for shares of Imperial Oil in a research note issued on Wednesday, January 15th. Zacks Research analyst R. Department now expects that the energy company will post earnings of $6.21 per share for the year, up from their prior forecast of $6.18. The consensus estimate for Imperial Oil's current full-year earnings is $6.28 per share. Zacks Research also issued estimates for Imperial Oil's Q2 2025 earnings at $1.06 EPS and Q4 2025 earnings at $1.29 EPS.

A number of other research analysts have also recently commented on the stock. Wolfe Research cut shares of Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. lowered shares of Imperial Oil from a "neutral" rating to an "underweight" rating in a report on Thursday, December 19th. Finally, Scotiabank reissued a "sector perform" rating and issued a $110.00 price target on shares of Imperial Oil in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, Imperial Oil presently has a consensus rating of "Hold" and an average target price of $109.00.

Imperial Oil Trading Up 0.5 %

IMO traded up $0.35 on Thursday, reaching $68.65. The company had a trading volume of 815,316 shares, compared to its average volume of 663,312. Imperial Oil has a 52-week low of $54.58 and a 52-week high of $80.17. The company has a market capitalization of $35.19 billion, a P/E ratio of 10.23 and a beta of 1.45. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.23.

Institutional Investors Weigh In On Imperial Oil

Several hedge funds have recently made changes to their positions in IMO. Mercer Global Advisors Inc. ADV increased its stake in shares of Imperial Oil by 5.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 3,266 shares of the energy company's stock valued at $223,000 after purchasing an additional 158 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Imperial Oil by 5.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,308 shares of the energy company's stock valued at $237,000 after buying an additional 163 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Imperial Oil by 5.0% during the third quarter. Sequoia Financial Advisors LLC now owns 3,753 shares of the energy company's stock valued at $265,000 after buying an additional 178 shares during the last quarter. Allworth Financial LP boosted its holdings in Imperial Oil by 21.0% in the third quarter. Allworth Financial LP now owns 1,347 shares of the energy company's stock worth $95,000 after acquiring an additional 234 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Imperial Oil by 8.0% in the fourth quarter. Ballentine Partners LLC now owns 3,900 shares of the energy company's stock worth $240,000 after acquiring an additional 288 shares during the last quarter. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.4304 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.72 annualized dividend and a yield of 2.51%. Imperial Oil's payout ratio is 25.34%.

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.