Q3 2024 EPS Estimates for Imperial Oil Limited (NYSEAMERICAN:IMO) Boosted by Zacks Research

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Stock analysts at Zacks Research increased their Q3 2024 earnings estimates for Imperial Oil in a research report issued on Thursday, September 12th. Zacks Research analyst R. Department now forecasts that the energy company will post earnings per share of $1.43 for the quarter, up from their previous forecast of $1.42. 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 $1.46 EPS, Q4 2025 earnings at $1.52 EPS and FY2025 earnings at $6.25 EPS.

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

Imperial Oil Trading Up 0.3 %

Shares of NYSEAMERICAN:IMO opened at $67.28 on Monday. The stock has a market cap of $35.55 billion, a price-to-earnings ratio of 10.55 and a beta of 1.45. Imperial Oil has a 1 year low of $52.97 and a 1 year high of $77.70. 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 (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings data on Friday, August 2nd. The energy company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $10.50 billion.

Imperial Oil Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Wednesday, September 4th will be issued a $0.4336 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Wednesday, September 4th. Imperial Oil’s payout ratio is currently 27.90%.

Hedge Funds Weigh In On Imperial Oil

A number of large investors have recently bought and sold shares of IMO. Manning & Napier Advisors LLC acquired a new stake in Imperial Oil in the second quarter valued at $3,064,000. US Bancorp DE increased its holdings in Imperial Oil by 91.6% in the first quarter. US Bancorp DE now owns 20,210 shares of the energy company’s stock valued at $1,397,000 after buying an additional 9,660 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Imperial Oil during the 1st quarter valued at approximately $720,000. Fiera Capital Corp boosted its stake in shares of Imperial Oil by 262.5% during the 2nd quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock worth $6,511,000 after acquiring an additional 69,121 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Imperial Oil by 1,250.9% during the 1st quarter. Bessemer Group Inc. now owns 7,849 shares of the energy company’s stock worth $542,000 after acquiring an additional 7,268 shares in the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

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.