Imperial Oil FY2024 EPS Forecast Lifted by Zacks Research

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Stock analysts at Zacks Research upped their FY2024 earnings per share estimates for shares of Imperial Oil in a report issued on Wednesday, January 15th. Zacks Research analyst R. Department now expects that the energy company will earn $6.21 per share for the year, up from their previous 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.

Other research analysts have also recently issued research reports about the stock. Scotiabank reissued a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a report on Wednesday, September 25th. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. downgraded Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, Imperial Oil currently has a consensus rating of “Hold” and a consensus target price of $109.00.

Imperial Oil Price Performance

Shares of IMO stock opened at $68.65 on Thursday. Imperial Oil has a fifty-two week low of $54.58 and a fifty-two week high of $80.17. The stock has a market capitalization of $35.19 billion, a PE ratio of 10.23 and a beta of 1.45. The company has a current ratio of 1.44, a quick ratio of 1.23 and a debt-to-equity ratio of 0.17.

Imperial Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd were paid a $0.4304 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.72 annualized dividend and a dividend yield of 2.51%. Imperial Oil’s dividend payout ratio is presently 25.34%.

Institutional Trading of Imperial Oil

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC raised its position in shares of Imperial Oil by 3.7% during 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 raised its holdings in shares of Imperial Oil by 8.4% during 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 acquiring an additional 341,689 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Imperial Oil by 9.7% in 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 in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Imperial Oil by 10,896.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 867,174 shares of the energy company’s stock worth $59,135,000 after acquiring an additional 859,288 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Imperial Oil by 9.1% during the third quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company’s stock worth $59,502,000 after purchasing an additional 70,357 shares in the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

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.