FY2024 EPS Estimates for Imperial Oil Increased by Analyst

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Stock analysts at Zacks Research lifted their FY2024 earnings estimates for Imperial Oil in a report issued 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 prior 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.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. Wolfe Research downgraded Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, Imperial Oil currently has a consensus rating of “Hold” and a consensus price target of $109.00.

Imperial Oil Stock Performance

IMO opened at $70.30 on Friday. The firm has a market cap of $35.79 billion, a P/E ratio of 10.48 and a beta of 1.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.23 and a current ratio of 1.44. Imperial Oil has a fifty-two week low of $55.74 and a fifty-two week high of $80.17.

Institutional Investors Weigh In On Imperial Oil

A number of hedge funds have recently made changes to their positions in IMO. FMR LLC raised its holdings in Imperial Oil by 3.7% during the 3rd quarter. FMR LLC now owns 36,933,627 shares of the energy company’s stock valued at $2,598,604,000 after buying an additional 1,331,235 shares during the period. The Manufacturers Life Insurance Company increased its position in 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. Point72 Europe London LLP raised its stake in shares of 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 acquiring an additional 202,590 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Imperial Oil by 9.7% in 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 acquiring an additional 187,158 shares during the last quarter. Finally, Bridgewater Associates LP lifted its holdings in shares of Imperial Oil by 522.8% in the 3rd quarter. Bridgewater Associates LP now owns 201,126 shares of the energy company’s stock worth $14,166,000 after acquiring an additional 168,831 shares during the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Tuesday, December 3rd were issued a $0.4304 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a yield of 2.45%. Imperial Oil’s dividend payout ratio is currently 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.