Brokers Offer Predictions for Imperial Oil Limited's Q1 2024 Earnings (NYSEAMERICAN:IMO)

Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO - Equities researchers at Zacks Research cut their Q1 2024 earnings estimates for Imperial Oil in a report issued on Monday, April 1st. Zacks Research analyst R. Department now forecasts that the energy company will earn $1.52 per share for the quarter, down from their previous estimate of $1.54. The consensus estimate for Imperial Oil's current full-year earnings is $5.68 per share. Zacks Research also issued estimates for Imperial Oil's Q1 2025 earnings at $1.93 EPS and FY2025 earnings at $5.75 EPS.

Imperial Oil (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO last announced its quarterly earnings results on Friday, February 2nd. The energy company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.26. The company had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $12.29 billion. Imperial Oil had a net margin of 9.59% and a return on equity of 20.92%.

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 analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $85.33.

Imperial Oil Stock Up 1.9 %

Shares of NYSEAMERICAN:IMO traded up $1.35 during trading on Wednesday, hitting $72.32. 516,928 shares of the company were exchanged, compared to its average volume of 427,936. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.26. Imperial Oil has a 1-year low of $44.46 and a 1-year high of $72.46. The company has a market capitalization of $38.75 billion, a PE ratio of 11.46 and a beta of 1.49.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.4473 dividend. This is a boost from Imperial Oil's previous quarterly dividend of $0.36. The ex-dividend date was Friday, March 1st. This represents a $1.79 annualized dividend and a dividend yield of 2.47%. Imperial Oil's payout ratio is currently 28.05%.

Institutional Trading of Imperial Oil

A number of institutional investors have recently bought and sold shares of IMO. AdvisorNet Financial Inc boosted its position in shares of Imperial Oil by 52.6% during the 4th quarter. AdvisorNet Financial Inc now owns 522 shares of the energy company's stock worth $30,000 after purchasing an additional 180 shares in the last quarter. Jones Financial Companies Lllp bought a new position in shares of Imperial Oil during the 4th quarter worth about $44,000. Assetmark Inc. boosted its position in shares of Imperial Oil by 938.5% during the 4th quarter. Assetmark Inc. now owns 810 shares of the energy company's stock worth $46,000 after purchasing an additional 732 shares in the last quarter. BNP Paribas Arbitrage SNC bought a new position in shares of Imperial Oil during the 3rd quarter worth about $35,000. Finally, Allworth Financial LP raised its holdings in shares of Imperial Oil by 176.6% in the 3rd 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 last quarter. 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 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.