Zacks Research Weighs in on Imperial Oil Limited’s Q1 2024 Earnings (NYSEAMERICAN:IMO)

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Stock analysts at Zacks Research raised their Q1 2024 EPS estimates for shares of Imperial Oil in a report issued on Monday, April 8th. Zacks Research analyst R. Department now anticipates that the energy company will post earnings per share of $1.53 for the quarter, up from their previous estimate of $1.52. The consensus estimate for Imperial Oil’s current full-year earnings is $6.03 per share. Zacks Research also issued estimates for Imperial Oil’s FY2024 earnings at $5.64 EPS, Q1 2025 earnings at $1.94 EPS, Q3 2025 earnings at $1.26 EPS, FY2025 earnings at $5.86 EPS, Q1 2026 earnings at $1.11 EPS and FY2026 earnings at $6.12 EPS.

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

Imperial Oil Stock Performance

NYSEAMERICAN:IMO opened at $69.93 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.18. Imperial Oil has a twelve month low of $44.46 and a twelve month high of $74.58. The stock has a market cap of $37.47 billion, a price-to-earnings ratio of 11.08 and a beta of 1.48.

Institutional Investors Weigh In On Imperial Oil

Hedge funds and other institutional investors have recently modified their holdings of the company. AdvisorNet Financial Inc grew its holdings in shares of Imperial Oil by 52.6% during the fourth quarter. AdvisorNet Financial Inc now owns 522 shares of the energy company’s stock worth $30,000 after buying an additional 180 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Imperial Oil during the fourth quarter worth about $44,000. Assetmark Inc. grew its holdings in shares of Imperial Oil by 938.5% during the fourth quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock worth $46,000 after buying an additional 732 shares in the last quarter. BNP Paribas Arbitrage SNC purchased a new stake in shares of Imperial Oil during the third quarter worth about $35,000. Finally, Allworth Financial LP grew its holdings in shares of Imperial Oil by 176.6% during the third quarter. Allworth Financial LP now owns 888 shares of the energy company’s stock worth $55,000 after buying an additional 567 shares in the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a dividend of $0.4473 per share. This is an increase from Imperial Oil’s previous quarterly dividend of $0.36. This represents a $1.79 annualized dividend and a yield of 2.56%. The ex-dividend date was Friday, March 1st. Imperial Oil’s dividend payout ratio (DPR) is 28.05%.

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.