Imperial Oil Limited Expected to Earn Q3 2024 Earnings of $1.43 Per Share (NYSEAMERICAN:IMO)

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Investment analysts at Zacks Research boosted their Q3 2024 earnings per share (EPS) estimates for Imperial Oil in a research report issued to clients and investors on Thursday, September 12th. Zacks Research analyst R. Department now anticipates that the energy company will post earnings per share of $1.43 for the quarter, up from their prior estimate of $1.42. The consensus estimate for Imperial Oil’s current full-year earnings is $6.29 per share. Zacks Research also issued estimates for Imperial Oil’s Q4 2024 earnings at $1.46 EPS, Q4 2025 earnings at $1.52 EPS and FY2025 earnings at $6.25 EPS.

IMO has been the topic of a number of other research reports. Scotiabank cut their target price on shares of Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Wolfe Research began coverage on Imperial Oil in a report on Thursday, July 18th. They issued an “outperform” rating and a $108.00 price target for the company. Raymond James upgraded Imperial Oil to a “hold” rating in a research note on Tuesday, May 28th. Finally, StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $99.50.

Imperial Oil Stock Performance

NYSEAMERICAN IMO opened at $67.28 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.40. Imperial Oil has a one year low of $52.97 and a one year high of $77.70. The company has a market capitalization of $35.55 billion, a P/E ratio of 10.55 and a beta of 1.45.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings data on Friday, August 2nd. The energy company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.11. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. The business had revenue of $9.78 billion for the quarter, compared to analyst estimates of $10.50 billion.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IMO. Massachusetts Financial Services Co. MA raised its position in shares of Imperial Oil by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 113,018 shares of the energy company’s stock valued at $6,463,000 after purchasing an additional 4,610 shares in the last quarter. Assetmark Inc. raised its holdings in Imperial Oil by 938.5% in the fourth quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock valued at $46,000 after acquiring an additional 732 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its stake in Imperial Oil by 14.8% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 38,988 shares of the energy company’s stock valued at $2,221,000 after acquiring an additional 5,021 shares during the last quarter. US Bancorp DE grew its holdings in Imperial Oil by 7.6% during the 4th quarter. US Bancorp DE now owns 10,550 shares of the energy company’s stock worth $603,000 after acquiring an additional 746 shares in the last quarter. Finally, United Services Automobile Association increased its position in shares of Imperial Oil by 0.9% in the 4th quarter. United Services Automobile Association now owns 153,282 shares of the energy company’s stock worth $8,741,000 after purchasing an additional 1,394 shares during the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th will be issued a $0.4336 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.73 dividend on an annualized basis and a yield of 2.58%. Imperial Oil’s dividend payout ratio is currently 27.90%.

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.