Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO - Equities researchers at Zacks Research lowered their Q2 2024 earnings estimates for shares of Imperial Oil in a report issued on Monday, April 1st. Zacks Research analyst R. Department now forecasts that the energy company will post earnings per share of $1.19 for the quarter, down from their previous forecast of $1.21. The consensus estimate for Imperial Oil's current full-year earnings is $5.69 per share. Zacks Research also issued estimates for Imperial Oil's Q3 2024 earnings at $1.42 EPS, Q4 2024 earnings at $1.47 EPS, FY2024 earnings at $5.61 EPS, Q3 2025 earnings at $1.20 EPS and Q4 2025 earnings at $1.16 EPS.
Separately, JPMorgan Chase & Co. raised shares of Imperial Oil from an "underweight" rating to a "neutral" rating in a research note on Friday, December 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Imperial Oil presently has a consensus rating of "Hold" and a consensus price target of $85.33.
Read Our Latest Stock Report on IMO
Imperial Oil Stock Up 1.6 %
Imperial Oil stock traded up $1.11 during trading hours on Tuesday, hitting $70.95. 419,628 shares of the company traded hands, compared to its average volume of 426,524. The stock has a market cap of $38.02 billion, a price-to-earnings ratio of 11.24 and a beta of 1.48. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. Imperial Oil has a 1-year low of $44.46 and a 1-year high of $71.14.
Imperial Oil (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO last released its earnings results on Friday, February 2nd. The energy company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.55 by $0.26. The firm had revenue of $9.63 billion for the quarter, compared to analysts' expectations of $12.29 billion. Imperial Oil had a net margin of 9.59% and a return on equity of 20.92%.
Imperial Oil Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.4473 dividend. The ex-dividend date was Friday, March 1st. This is a boost from Imperial Oil's previous quarterly dividend of $0.36. This represents a $1.79 dividend on an annualized basis and a yield of 2.52%. Imperial Oil's payout ratio is 28.05%.
Institutional Trading of Imperial Oil
A number of institutional investors have recently added to or reduced their stakes in the business. AdvisorNet Financial Inc raised its position in shares of Imperial Oil by 52.6% in the fourth quarter. AdvisorNet Financial Inc now owns 522 shares of the energy company's stock valued at $30,000 after purchasing an additional 180 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Imperial Oil in the fourth quarter valued at approximately $44,000. Assetmark Inc. increased its position in Imperial Oil by 938.5% during the fourth quarter. Assetmark Inc. now owns 810 shares of the energy company's stock worth $46,000 after acquiring an additional 732 shares during the period. BNP Paribas Arbitrage SNC bought a new position in Imperial Oil during the third quarter worth $35,000. Finally, Allworth Financial LP increased its position in Imperial Oil by 176.6% during the third quarter. Allworth Financial LP now owns 888 shares of the energy company's stock worth $55,000 after acquiring an additional 567 shares during the period. 20.74% of the stock is currently owned by institutional investors and hedge funds.
Imperial Oil Company Profile
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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 for, 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.
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