Zacks Research Equities Analysts Lift Earnings Estimates for Imperial Oil Limited (NYSEAMERICAN:IMO)

Posted by Defense World Staff on Sep 25th, 2023

Imperial Oil Limited (NYSEAMERICAN:IMO – Free Report) (TSE:IMO) – Research analysts at Zacks Research raised their Q3 2023 EPS estimates for Imperial Oil in a note issued to investors on Thursday, September 21st. Zacks Research analyst T. Saha now forecasts that the energy company will post earnings of $1.46 per share for the quarter, up from their prior forecast of $1.45. The consensus estimate for Imperial Oil’s current full-year earnings is $5.21 per share. Zacks Research also issued estimates for Imperial Oil’s Q3 2024 earnings at $0.47 EPS.

Imperial Oil (NYSEAMERICAN:IMO – Get Free Report) (TSE:IMO) last issued its quarterly earnings results on Friday, July 28th. The energy company reported $0.86 EPS for the quarter, hitting the consensus estimate of $0.86. Imperial Oil had a net margin of 10.61% and a return on equity of 23.61%. The firm had revenue of $8.80 billion during the quarter, compared to analyst estimates of $11.55 billion.

IMO has been the subject of several other research reports. UBS Group began coverage on shares of Imperial Oil in a research report on Wednesday, July 12th. They set a “buy” rating for the company. StockNews.com began coverage on shares of Imperial Oil in a research report on Wednesday, August 23rd. They set a “hold” rating for the company. Finally, CIBC upped their price target on shares of Imperial Oil from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Imperial Oil has a consensus rating of “Hold” and an average price target of $79.00.

View Our Latest Analysis on IMO

Imperial Oil Stock Performance

Shares of IMO stock opened at $58.40 on Monday. Imperial Oil has a one year low of $40.20 and a one year high of $60.05. The company has a quick ratio of 1.26, a current ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average is $48.76. The firm has a market capitalization of $33.64 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of 0.41 and a beta of 1.57.

Institutional Investors Weigh In On Imperial Oil

Several large investors have recently made changes to their positions in IMO. EverSource Wealth Advisors LLC grew its holdings in Imperial Oil by 8.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,713 shares of the energy company’s stock valued at $139,000 after purchasing an additional 210 shares in the last quarter. HighTower Advisors LLC grew its holdings in Imperial Oil by 2.6% during the 1st quarter. HighTower Advisors LLC now owns 9,154 shares of the energy company’s stock valued at $464,000 after purchasing an additional 236 shares in the last quarter. J. W. Coons Advisors LLC grew its holdings in Imperial Oil by 1.9% during the 1st quarter. J. W. Coons Advisors LLC now owns 13,065 shares of the energy company’s stock valued at $664,000 after purchasing an additional 240 shares in the last quarter. Meixler Investment Management Ltd. grew its holdings in Imperial Oil by 4.1% during the 1st quarter. Meixler Investment Management Ltd. now owns 6,733 shares of the energy company’s stock valued at $342,000 after purchasing an additional 263 shares in the last quarter. Finally, AXA S.A. grew its holdings in Imperial Oil by 5.0% during the 1st quarter. AXA S.A. now owns 5,684 shares of the energy company’s stock valued at $289,000 after purchasing an additional 269 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

Imperial Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be given a $0.3789 dividend. The ex-dividend date is Thursday, August 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.60%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.37. Imperial Oil’s dividend payout ratio is presently 20.91%.

About Imperial Oil

(Get Free Report)

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 is involved in the transportation and refining of crude oil, blending of refined products, and the distribution and marketing of refined products.