
Imperial Oil (IMO) Stock Forecast & Price Target
Imperial Oil (IMO) Analyst Ratings
Bulls say
Imperial Oil Ltd demonstrated solid third-quarter results with a 2% increase in upstream production to 447,000 barrels of oil equivalent per day (boe/d) and a 9% rise in cash flow per share (CFPS) to $3.38, coupled with a notable 13% increase in capital spending to $486 million compared to previous estimates. The company's downstream segment benefits from its advantageous positioning, including access to discounted crude streams and refined product import parity, which supports higher downstream margins despite recent fluctuations in the refinery crack spread environment. Additionally, Imperial has raised its full-year 2024 capital spending outlook by 9% to $1.85 billion and its 2025-26 outlook to an annual rate of $1.95 billion, reflecting a commitment to growth and operational efficiency.
Bears say
Imperial Oil Ltd has experienced a significant decline in its common shares outstanding, decreasing by 32% since early 2019, despite a more than tripling of its annualized base dividend per share from $0.76 to $2.40 during the same period. The company projects a 2024 production outlook of 433,000 boe/d, slightly above its guidance range, yet the reliance on stable crude oil prices remains a critical risk factor, as any unexpected fluctuations could adversely impact its financial performance. Overall, while the company shows certain operational strengths, the declining share count, coupled with volatility in crude oil prices, contributes to a negative sentiment regarding its stock outlook.
This aggregate rating is based on analysts' research of Imperial Oil and is not a guaranteed prediction by Public.com or investment advice.
Imperial Oil (IMO) Analyst Forecast & Price Prediction
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