Q2 2023 Earnings Estimate for Imperial Oil Limited (NYSEAMERICAN:IMO) Issued By Zacks Research

Imperial Oil Limited (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) – Investment analysts at Zacks Research cut their Q2 2023 earnings per share estimates for shares of Imperial Oil in a research note issued on Monday, May 15th. Zacks Research analyst N. Choudhury now expects that the energy company will post earnings of $1.26 per share for the quarter, down from their previous forecast of $1.35. The consensus estimate for Imperial Oil’s current full-year earnings is $5.73 per share. Zacks Research also issued estimates for Imperial Oil’s Q1 2024 earnings at $1.42 EPS.

Several other research firms have also weighed in on IMO. Raymond James boosted their target price on Imperial Oil from C$70.00 to C$74.00 in a report on Wednesday, February 1st. Scotiabank upgraded Imperial Oil from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, March 21st. CIBC cut their price target on Imperial Oil from C$80.00 to C$76.00 in a report on Tuesday, January 17th. StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Finally, Royal Bank of Canada lowered Imperial Oil from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $82.00 to $78.00 in a report on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $79.00.

Imperial Oil Stock Down 1.5 %

IMO opened at $45.41 on Tuesday. The business has a 50 day moving average price of $50.59 and a 200 day moving average price of $50.69. Imperial Oil has a twelve month low of $39.95 and a twelve month high of $58.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.04 and a current ratio of 1.21. The firm has a market cap of $26.53 billion, a P/E ratio of 5.15, a price-to-earnings-growth ratio of 0.32 and a beta of 1.54.

Imperial Oil (NYSEAMERICAN:IMO – Get Rating) (TSE:IMO) last announced its quarterly earnings results on Friday, April 28th. The energy company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.13. The business had revenue of $8.96 billion during the quarter, compared to analyst estimates of $11.38 billion. Imperial Oil had a return on equity of 31.73% and a net margin of 12.30%.

Imperial Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Friday, June 2nd will be given a $0.3674 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 3.24%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, June 1st. Imperial Oil’s dividend payout ratio is 14.64%.

Institutional Trading of Imperial Oil

A number of large investors have recently bought and sold shares of IMO. BNP Paribas Arbitrage SNC bought a new stake in shares of Imperial Oil during the third quarter worth $35,000. Spire Wealth Management boosted its holdings in Imperial Oil by 189.6% in the first quarter. Spire Wealth Management now owns 724 shares of the energy company’s stock valued at $37,000 after acquiring an additional 474 shares during the last quarter. Baldwin Brothers LLC MA bought a new position in Imperial Oil in the fourth quarter valued at about $44,000. CWM LLC boosted its holdings in Imperial Oil by 93.3% in the fourth quarter. CWM LLC now owns 978 shares of the energy company’s stock valued at $48,000 after acquiring an additional 472 shares during the last quarter. Finally, Pacifica Partners Inc. bought a new position in Imperial Oil in the first quarter valued at about $54,000. 20.18% of the stock is currently owned by institutional investors.

About Imperial Oil

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Imperial Oil Ltd. engages in the exploration, production, and sale of crude oil and natural gas. It operates through the following business segments: Upstream, Downstream, Chemical, and Corporate and Other. The Upstream segment includes the exploration and production of crude oil, natural gas, synthetic oil, and bitumen.