FY2024 EPS Estimates for Imperial Oil Limited Increased by Zacks Research (NYSEAMERICAN:IMO)

Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO - Stock analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Imperial Oil in a research note issued on Wednesday, May 8th. Zacks Research analyst R. Department now expects that the energy company will post earnings per share of $6.10 for the year, up from their previous 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.

Separately, StockNews.com raised Imperial Oil from a "hold" rating to a "buy" rating in a report on Sunday, May 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Imperial Oil presently has an average rating of "Hold" and a consensus target price of $85.33.

Imperial Oil Trading Down 0.3 %

Imperial Oil stock traded down $0.18 during mid-day trading on Friday, hitting $69.85. 241,176 shares of the company's stock traded hands, compared to its average volume of 406,784. Imperial Oil has a fifty-two week low of $44.89 and a fifty-two week high of $74.58. The company has a market capitalization of $37.43 billion, a price-to-earnings ratio of 10.98 and a beta of 1.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.04.

Imperial Oil (NYSEAMERICAN:IMO - Get Free Report) TSE: IMO last announced its quarterly earnings data on Friday, April 26th. The energy company reported $1.65 earnings per share 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 during the quarter, compared to analysts' expectations of $11.61 billion.

Institutional Investors Weigh In On Imperial Oil

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Imperial Oil by 95.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,597,474 shares of the energy company's stock valued at $376,421,000 after buying an additional 3,225,957 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Imperial Oil by 201.0% during the first quarter. TD Asset Management Inc now owns 3,384,060 shares of the energy company's stock valued at $233,640,000 after buying an additional 2,259,766 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Imperial Oil by 114.8% during the third quarter. The Manufacturers Life Insurance Company now owns 3,371,517 shares of the energy company's stock valued at $209,148,000 after buying an additional 1,801,671 shares during the last quarter. FMR LLC grew its holdings in shares of Imperial Oil by 3.6% during the third quarter. FMR LLC now owns 28,557,885 shares of the energy company's stock valued at $1,758,993,000 after buying an additional 1,001,847 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Imperial Oil by 27.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,737,291 shares of the energy company's stock valued at $168,591,000 after buying an additional 589,017 shares during the last quarter. 20.74% of the stock is owned by institutional investors.

Imperial Oil Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.4377 per share. This represents a $1.75 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Monday, June 3rd. Imperial Oil's dividend payout ratio is presently 27.74%.

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.