Zacks Research Comments on Imperial Oil Limited’s FY2024 Earnings (NYSEAMERICAN:IMO)

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Equities research analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for Imperial Oil in a report released on Wednesday, May 8th. Zacks Research analyst R. Department now forecasts that the energy company will post earnings of $6.10 per share for the year, up from their prior forecast of $5.64. The consensus estimate for Imperial Oil’s current full-year earnings is $6.07 per share. Zacks Research also issued estimates for Imperial Oil’s Q4 2024 earnings at $1.60 EPS, Q2 2025 earnings at $1.53 EPS and FY2025 earnings at $5.89 EPS.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its earnings results on Friday, April 26th. The energy company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.55 by $0.10. Imperial Oil had a return on equity of 20.76% and a net margin of 9.46%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $11.61 billion.

Separately, StockNews.com upgraded Imperial Oil from a “hold” rating to a “buy” rating in a research note on Sunday, May 5th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Imperial Oil has a consensus rating of “Hold” and an average price target of $85.33.

Imperial Oil Trading Up 0.8 %

Shares of IMO stock opened at $70.07 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.04. The company has a market capitalization of $37.55 billion, a P/E ratio of 10.98 and a beta of 1.47. Imperial Oil has a 1 year low of $44.89 and a 1 year high of $74.58.

Imperial Oil Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.4377 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.75 annualized dividend and a dividend yield of 2.50%. Imperial Oil’s dividend payout ratio is presently 27.74%.

Institutional Trading of Imperial Oil

Several large investors have recently made changes to their positions in IMO. Commonwealth Equity Services LLC lifted its position in Imperial Oil by 8.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 33,774 shares of the energy company’s stock valued at $2,080,000 after acquiring an additional 2,572 shares in the last quarter. Raymond James & Associates lifted its position in shares of Imperial Oil by 106.5% during the 3rd quarter. Raymond James & Associates now owns 20,396 shares of the energy company’s stock worth $1,256,000 after buying an additional 10,518 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Imperial Oil by 2.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 89,946 shares of the energy company’s stock worth $5,540,000 after purchasing an additional 2,563 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Imperial Oil by 13.0% in the third quarter. Bank of New York Mellon Corp now owns 277,892 shares of the energy company’s stock valued at $17,115,000 after purchasing an additional 32,075 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in Imperial Oil in the third quarter valued at approximately $370,000. 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.