Zacks Research Forecasts Stronger Earnings for Imperial Oil

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Zacks Research raised their FY2024 EPS estimates for Imperial Oil in a report issued on Thursday, November 21st. Zacks Research analyst R. Department now anticipates that the energy company will post earnings per share of $6.18 for the year, up from their prior forecast of $6.09. The consensus estimate for Imperial Oil’s current full-year earnings is $6.24 per share. Zacks Research also issued estimates for Imperial Oil’s Q1 2025 earnings at $1.05 EPS, Q2 2026 earnings at $1.52 EPS, Q3 2026 earnings at $1.09 EPS and FY2026 earnings at $5.99 EPS.

A number of other equities research analysts have also weighed in on the stock. StockNews.com lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Scotiabank reaffirmed a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $109.00.

Imperial Oil Price Performance

Shares of IMO stock opened at $73.64 on Monday. Imperial Oil has a 52 week low of $52.97 and a 52 week high of $80.17. The company has a current ratio of 1.44, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $38.14 billion, a PE ratio of 10.97 and a beta of 1.44.

Institutional Trading of Imperial Oil

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC grew its stake 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 worth $2,598,604,000 after purchasing an additional 1,331,235 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Imperial Oil by 8.4% in the 3rd 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 during the last quarter. TD Asset Management Inc increased its position in shares of Imperial Oil by 12.2% in the second quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock worth $258,817,000 after acquiring an additional 412,600 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of 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 valued at $148,235,000 after acquiring an additional 187,158 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Imperial Oil by 10,896.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock valued at $59,135,000 after acquiring an additional 859,288 shares during the period. 20.74% of the stock is currently owned by institutional investors.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.4304 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.34%. Imperial Oil’s dividend payout ratio (DPR) is 26.53%.

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.