Zacks Research Expects Increased Earnings for Imperial Oil

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Analysts at Zacks Research boosted their FY2024 EPS estimates for Imperial Oil in a report released on Thursday, January 23rd. Zacks Research analyst R. Department now expects that the energy company will post earnings of $6.23 per share for the year, up from their previous estimate 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.

Several other equities research analysts also recently commented on the company. JPMorgan Chase & Co. downgraded Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. Wolfe Research lowered shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. 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 data from MarketBeat, Imperial Oil presently has a consensus rating of “Hold” and an average price target of $109.00.

Imperial Oil Price Performance

IMO opened at $71.57 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.23. The firm has a market cap of $36.43 billion, a PE ratio of 10.58 and a beta of 1.45. Imperial Oil has a fifty-two week low of $54.74 and a fifty-two week high of $80.17.

Imperial Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.4304 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.41%. Imperial Oil’s dividend payout ratio is 25.34%.

Hedge Funds Weigh In On Imperial Oil

Institutional investors and hedge funds have recently bought and sold shares of the business. Winch Advisory Services LLC purchased a new stake in shares of Imperial Oil during the fourth quarter worth $26,000. BNP Paribas Financial Markets acquired a new position in Imperial Oil in the 3rd quarter worth about $28,000. Grove Bank & Trust raised its stake in shares of Imperial Oil by 438.0% during the 3rd quarter. Grove Bank & Trust now owns 538 shares of the energy company’s stock worth $38,000 after purchasing an additional 438 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Imperial Oil by 21.0% during the 3rd quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock valued at $95,000 after buying an additional 234 shares during the last quarter. Finally, Oakworth Capital Inc. bought a new stake in shares of Imperial Oil in the 3rd quarter valued at approximately $101,000. Hedge funds and other institutional investors own 20.74% of the company’s stock.

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.