Zacks Research Predicts Stronger Earnings for Imperial Oil

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Equities researchers at Zacks Research increased their FY2024 earnings per share (EPS) estimates for Imperial Oil in a research report issued on Thursday, November 21st. Zacks Research analyst R. Department now expects 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 $6.22 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 research firms have also weighed in on IMO. StockNews.com lowered shares of Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Scotiabank restated a “sector perform” rating and set a $110.00 price target on shares of Imperial Oil in a research note on Wednesday, September 25th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Imperial Oil currently has an average rating of “Hold” and an average target price of $109.00.

Imperial Oil Trading Up 0.1 %

Imperial Oil stock opened at $77.13 on Monday. The stock has a market capitalization of $39.94 billion, a price-to-earnings ratio of 11.49 and a beta of 1.44. Imperial Oil has a 12 month low of $52.97 and a 12 month high of $80.17. The company has a quick ratio of 1.23, a current ratio of 1.44 and a debt-to-equity ratio of 0.17.

Institutional Trading of Imperial Oil

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Imperial Oil by 3.7% in the third 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 raised its position 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 valued at $311,175,000 after purchasing an additional 341,689 shares during the last quarter. TD Asset Management Inc boosted its stake in Imperial Oil by 12.2% in the 2nd quarter. TD Asset Management Inc now owns 3,796,660 shares of the energy company’s stock worth $258,817,000 after purchasing an additional 412,600 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Imperial Oil by 9.7% during the 3rd 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 during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Imperial Oil by 10,896.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock valued at $59,135,000 after purchasing an additional 859,288 shares during the last quarter. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.4304 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Tuesday, December 3rd. Imperial Oil’s dividend payout ratio is currently 26.53%.

About Imperial Oil

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.