Imperial Oil Limited to Post FY2024 Earnings of $6.08 Per Share, Zacks Research Forecasts (NYSEAMERICAN:IMO)

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Stock analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for Imperial Oil in a report issued on Thursday, September 12th. Zacks Research analyst R. Department now forecasts that the energy company will post earnings of $6.08 per share for the year, up from their prior estimate of $6.03. 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 Q1 2025 earnings at $1.52 EPS, Q2 2025 earnings at $1.70 EPS, Q3 2025 earnings at $1.52 EPS, Q1 2026 earnings at $1.75 EPS, Q2 2026 earnings at $1.52 EPS and FY2026 earnings at $5.84 EPS.

A number of other research analysts also recently commented on the company. Scotiabank lowered their target price on Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Wolfe Research started coverage on Imperial Oil in a research report on Thursday, July 18th. They set an “outperform” rating and a $108.00 target price on the stock. Raymond James raised shares of Imperial Oil to a “hold” rating in a report on Tuesday, May 28th. Finally, StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $99.50.

Imperial Oil Stock Up 0.3 %

Shares of IMO opened at $65.96 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.40. Imperial Oil has a 12-month low of $52.97 and a 12-month high of $77.70. The company has a market capitalization of $34.86 billion, a PE ratio of 9.31 and a beta of 1.45.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.11. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. The firm had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $10.50 billion.

Imperial Oil Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Wednesday, September 4th will be paid a $0.4336 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Wednesday, September 4th. Imperial Oil’s dividend payout ratio (DPR) is presently 27.90%.

Institutional Investors Weigh In On Imperial Oil

Several hedge funds have recently added to or reduced their stakes in IMO. RFP Financial Group LLC purchased a new position in Imperial Oil during the second quarter worth about $25,000. Hexagon Capital Partners LLC raised its position in Imperial Oil by 84.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 493 shares of the energy company’s stock worth $34,000 after purchasing an additional 225 shares during the period. Jones Financial Companies Lllp bought a new position in Imperial Oil during the 4th quarter worth approximately $44,000. Assetmark Inc. increased its stake in shares of Imperial Oil by 938.5% in the fourth quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock worth $46,000 after buying an additional 732 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Imperial Oil in the 1st quarter worth approximately $46,000. 20.74% of the stock is currently owned by institutional investors and hedge funds.

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.