Zacks Research Forecasts Increased Earnings for Imperial Oil

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Stock analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for Imperial Oil in a research note issued on Thursday, November 21st. Zacks Research analyst R. Department now anticipates that the energy company will post earnings per share of $6.18 for the year, up from their prior forecast of $6.09. The consensus estimate for Imperial Oil’s current full-year earnings is $6.22 per share. Zacks Research also issued estimates for Imperial Oil’s Q1 2025 earnings at $1.05 EPS, Q2 2026 earnings at $1.52 EPS, Q3 2026 earnings at $1.09 EPS and FY2026 earnings at $5.99 EPS.

Other equities analysts have also recently issued research reports about the company. Scotiabank reiterated a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a research report on Wednesday, September 25th. StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $109.00.

Imperial Oil Trading Up 0.1 %

NYSEAMERICAN:IMO opened at $77.13 on Monday. The firm has a market capitalization of $39.94 billion, a P/E ratio of 11.49 and a beta of 1.44. 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 1-year low of $52.97 and a 1-year high of $80.17.

Imperial Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd will be paid a $0.4304 dividend. This represents a $1.72 annualized dividend and a yield of 2.23%. The ex-dividend date is Tuesday, December 3rd. Imperial Oil’s payout ratio is currently 26.53%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in Imperial Oil during the 2nd quarter valued at $3,064,000. Fiera Capital Corp boosted its stake in shares of Imperial Oil by 262.5% during the second quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock valued at $6,511,000 after acquiring an additional 69,121 shares during the last quarter. Ritholtz Wealth Management increased its position in Imperial Oil by 17.4% during the 3rd quarter. Ritholtz Wealth Management now owns 59,726 shares of the energy company’s stock worth $4,208,000 after purchasing an additional 8,858 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Imperial Oil by 855.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 35,981 shares of the energy company’s stock worth $2,534,000 after purchasing an additional 32,214 shares in the last quarter. Finally, M&G Plc acquired a new position in Imperial Oil in the 2nd quarter valued at about $627,000. Institutional investors and hedge funds 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.