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

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for shares of Imperial Oil in a note issued to investors on Wednesday, May 8th. Zacks Research analyst R. Department now expects that the energy company will post earnings of $6.10 per share for the year, up from their prior estimate 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.

Separately, StockNews.com upgraded shares of Imperial Oil from a “hold” rating to a “buy” rating in a research report on Sunday, May 5th. Four 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 company has an average rating of “Hold” and an average target price of $85.33.

Imperial Oil Stock Up 0.8 %

NYSEAMERICAN IMO opened at $70.07 on Friday. Imperial Oil has a 52 week low of $44.89 and a 52 week high of $74.58. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. The stock has a market cap of $37.55 billion, a PE ratio of 10.98 and a beta of 1.47.

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

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.4377 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.75 annualized dividend and a yield of 2.50%. Imperial Oil’s dividend payout ratio (DPR) is 27.74%.

Institutional Trading of Imperial Oil

Several large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC boosted its position in shares of Imperial Oil by 8.2% in the third quarter. Commonwealth Equity Services LLC now owns 33,774 shares of the energy company’s stock worth $2,080,000 after purchasing an additional 2,572 shares during the period. Raymond James & Associates boosted its position in shares of Imperial Oil by 106.5% in the third quarter. Raymond James & Associates now owns 20,396 shares of the energy company’s stock worth $1,256,000 after purchasing an additional 10,518 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Imperial Oil by 2.9% in the third 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 period. Bank of New York Mellon Corp boosted its position in shares of 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 worth $17,115,000 after purchasing an additional 32,075 shares during the period. Finally, Park Avenue Securities LLC bought a new position in shares of Imperial Oil in the third quarter worth approximately $370,000. 20.74% of the stock is currently owned by institutional investors.

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.