Zacks Research Boosts Earnings Estimates for Imperial Oil

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Research analysts at Zacks Research increased their FY2024 earnings per share estimates for Imperial Oil in a report issued on Thursday, January 23rd. Zacks Research analyst R. Department now anticipates that the energy company will post earnings per share of $6.23 for the year, up from their previous 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 brokerages also recently commented on IMO. Wolfe Research downgraded shares of Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. downgraded shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $109.00.

Imperial Oil Price Performance

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

Imperial Oil Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd were issued a dividend of $0.4304 per share. This represents a $1.72 annualized dividend and a yield of 2.45%. The ex-dividend date was Tuesday, December 3rd. Imperial Oil’s dividend payout ratio is currently 25.34%.

Institutional Trading of Imperial Oil

Large investors have recently made changes to their positions in the business. Winch Advisory Services LLC acquired a new position in Imperial Oil during the 4th quarter valued at about $26,000. BNP Paribas Financial Markets bought a new position in shares of Imperial Oil in the 3rd quarter worth $28,000. Grove Bank & Trust grew its position 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 buying an additional 438 shares during the period. Allworth Financial LP increased its stake in shares of Imperial Oil by 21.0% in the 3rd quarter. Allworth Financial LP now owns 1,347 shares of the energy company’s stock valued at $95,000 after acquiring an additional 234 shares during the last quarter. Finally, Oakworth Capital Inc. bought a new stake in Imperial Oil in the third quarter valued at approximately $101,000. 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.