|Bid||0.00 x 1400|
|Ask||0.00 x 1100|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|Beta (3Y Monthly)||1.03|
|PE Ratio (TTM)||21.26|
|Earnings Date||Jan. 31, 2017 - Feb. 6, 2017|
|Forward Dividend & Yield||0.67 (2.68%)|
|1y Target Est||32.51|
Canada’s second-largest integrated oil company, Imperial Oil, has an impressive 20-year dividend streak, and it could be oversold right now. Is it a good buy?
Exxon Mobil Corporation (NYSE:XOM) owns a substantial amount of Imperial Oil Ltd. (TSX:IMO)(NYSEMKT:IMO), and judging by its strategy, it's not hard to understand why.
CALGARY — Imperial Oil Ltd. is "scurrying" to quickly ramp up crude-by-rail shipments from its Edmonton terminal to take advantage of improved profitability caused by the Keystone pipeline spill in North Dakota, CEO Rich Kruger said Tuesday.But the company has little interest in buying $3.7 billion in rail contracts the provincial government is trying to unload because the market is too volatile to count on for the longer term, Kruger told reporters after Imperial's investor day in Toronto."The challenge through the year on the rail is it's been a roller-coaster. It's up and down. Some months it's in the money, some months it's not, it's been very difficult to predict," he said."When you ramp up a rail operation, it's not a switch, you can't flip it on and off."Imperial signalled during its third-quarter results call two weeks ago that shipments from its 210,000-barrel-per-day rail terminal in Edmonton could continue to fall after slipping from 76,000 bpd in July to 35,000 bpd in September.Kruger said the economic case for shipping oil by rail worsened over the summer because there wasn't enough difference in price between Alberta and the U.S. Gulf Coast end market to support rail, which is considered more expensive and less safe than pipeline transport.On Tuesday, he said the Keystone outage has caused oil storage inventories to rise in Alberta, leading to a steeper discount to U.S. prices and making rail more attractive. (The pipeline was restarted at lower pressure on Sunday after leaking about 9,000 barrels of oil.)Kruger said he couldn't provide Imperial's current rail volumes.Imperial's sanctioning of the $2.6-billion Aspen oilsands project, which would have used steam and solvents to produce 75,000 barrels of bitumen per day from wells, surprised observers when it was announced at last year's investor day but there was no such surprise at this year's event.Instead, Kruger, who is retiring at year-end, said it will remain on the sidelines until the province completely ends its oil curtailment program put in place by the previous NDP government to support prices.The measure was continued by the United Conservative government when it was elected last spring, although allowable production has gradually been increased. The new government has also said it will soon announce results of its plan to sell off rail contracts signed by the NDP.Imperial did, however, announce a $450-million project to boost output from its four-decades-old Cold Lake thermal project in northeastern Alberta by drilling into the previously undeveloped Grand Rapids underground oilsands formation.Imperial says the project will save about $1 billion in capital spending by replacing its previously proposed 55,000-bpd Cold Lake expansion project. The new plan involves diverting steam from its nearby underperforming Nabiye project, started up in 2015, to bring on about 15,000 bpd by 2021, with new steam generation added in future phases to take production to 40,000 to 50,000 bpd.Imperial also confirmed a plan to boost production from its Kearl oilsands mine to 280,000 bpd from the current 200,000 bpd through the addition of supplemental ore crushers and self-driving haul trucks, along with other enhancements.Kruger said the Kearl expansion will likely require at least some use of crude-by-rail next year.This report by The Canadian Press was first published Nov. 12, 2019.Companies mentioned in this article: (TSX:IMO)Dan Healing, The Canadian Press
CALGARY — Alberta is going in the "right direction" with its plan to ease production curtailments for oil producers who add crude-by-rail capacity, the CEO of Imperial Oil Ltd. said Friday, although he didn't commit to transport more oil by rail.Rich Kruger — one of the industry's most outspoken critics of mandatory curtailments that began last January — said it's necessary to review of the details of the province's plan, which was announced Thursday."I would say, in the form of a compliment to the government, they're trying to make the best of a bad situation. They're playing the cards they were dealt," he said on a webcast to discuss third-quarter results."The bad situation is that we're in curtailment in the first place."Under the previous NDP government, Alberta put a cap on the amount of oil that the industry can produce as a way to narrow price discounts that grew as oil production exceeded the ability of pipelines to get the crude to market.The measure was continued by the United Conservative government, when it was elected last spring, but the industry quota is rising to 3.81 million barrels per day in December, up 250,000 bpd from the original limit of 3.56 million bpd.Imperial is more heavily invested in crude-by-rail than most producers because it co-owns a terminal in Edmonton with the capacity to load 210,000 bpd — about one third of the province's estimated rail capacity of 500,000 to 600,000 bpd.However, Kruger said the economic case for shipping oil by rail steadily worsened over the summer because there's not enough difference in price between Alberta and the U.S. Gulf Coast end market to support shipping by rail, which is more expensive than pipelines.Rail shipments by Imperial in the third quarter fell from 76,000 bpd in July to 35,000 bpd in September, he said, adding the volumes would be headed even lower in the current quarter if not for the government announcement and the possible impact of an outage on the Keystone pipeline following a large oil spill in North Dakota earlier this week.He said rail shipping volumes are "to be determined at this point," adding Imperial uses Keystone but declining to give volumes.On Thursday, rival oilsands producer Cenovus Energy Inc. said it would quickly add as much as 20,000 bpd to oilsands output and proceed with bringing an oilsands expansion on stream, to add 50,000 bpd in the next six to 12 months following the Alberta decision on curtailments.Suncor Energy Inc., meanwhile, said it would put up to 30,000 bpd on rail over the next month or so in view of the announcement.Alberta's lack of pipeline capacity has made oil-by-rail the next-best method of transport, but the switch comes with certain costs. In a 2016 study, researchers at the University of Alberta found that pipeline transportation of oil produced between 61 and 77 per cent fewer greenhouse gas emissions than rail, and numerous studies have found that pipelines are the safer transport method.Imperial reported Friday that net income fell 43 per cent to $424 million in the three months ended Sept. 30, compared with $749 million or 94 cents per share in the same period of 2018.It said cash generated from operating activities added up to $1.38 billion in the quarter, up from $1.21 billion in the third quarter of 2018.The biggest drag on earnings came from Imperial's downstream operations, where net income slipped to $221 million from $502 million due to lower refinery profit margins and planned maintenance outages.On the upstream side, Imperial reported slightly lower income due to higher operating expenses and royalties — it noted lower volumes at its Kearl oilsands mine and Cold Lake bitumen works but higher volumes from the Syncrude mining facility, in which it holds a 25 per cent stake.Total production rose to 407,000 barrels of oil equivalent per day from 393,000 boe/d in the same period of 2018.Kruger is retiring at the end of the year and his role is to be assumed by Brad Corson.This report by The Canadian Press was first published Nov. 1, 2019.Companies in this story: (TSX:IMO, TSX:CVE, TSX:SU)Dan Healing, The Canadian Press
Imperial Oil (IMO) delivered earnings and revenue surprises of -4.55% and -1.08%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
The big shareholder groups in Imperial Oil Limited (TSE:IMO) have power over the company. Institutions often own...
Imperial Oil (IMO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
CALGARY — The Canada Energy Regulator says exports of crude oil by rail from Canada fell slightly in August to 310,000 barrels per day from 313,000 bpd in July.The August number is up 35 per cent from 230,000 bpd reported in August of 2018 but still well below the record high of 354,000 bpd set last December.The small change in crude-by-rail shipments came despite a threat by Imperial Oil Ltd. CEO Rich Kruger to throttle back the company's rail movements in August and September to protest the ongoing Alberta oil production curtailment program.He says the program damages the economic case for crude-by-rail by artificially lowering the difference in oil prices between Alberta and the end market on the U.S. Gulf Coast.Imperial reported moving 80,000 bpd by rail in June. It co-owns an oil shipping rail terminal at Edmonton with capacity to load 210,000 barrels of crude per day. Alberta has gradually eased the curtailment program designed to better align production with tight pipeline capacity from an initial withholding of about 325,000 bpd last January to 125,000 bpd in September. This report by The Canadian Press was first published Oct. 21, 2019.Companies in this story: (TSX:IMO) The Canadian Press
Imperial Oil (IMO) seems to be a good value pick, as it has decent revenue metrics to back up its earnings, and is seeing solid earnings estimate revisions as well.
Oil stocks like Imperial Oil Ltd. (TSX:IMO)(NYSEMKT:IMO) and MEG Energy Corp (TSX:MEG) face two very different futures. Find out which stock to buy and which to avoid.
Imperial Oil Limited (TSX:IMO)(NYSE:IMO), Canadian National Railway Company (TSX:CNR)(NYSE:CNI), and Empire Company Limited (TSX:EMP.A) are trusted stocks for their lengthy records of dividend payment.
These two high-quality companies, including Imperial Oil Ltd (TSX:IMO)(NYSE:IMO), have entered oversold status only twice this year. Don't miss out on this opportunity.
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll apply a...
Stocks like Imperial Oil Ltd. (TSX:IMO)(NYSEMKT:IMO) and Canadian Natural Resources Ltd. (TSX:CNQ)(NYSE:CNQ) used to be winning investments, but long-term, they're primed to underperform.
The market decline in 2008 was a tragedy and a learning experience for investors. Recession-free stocks like Imperial Oil Limited (TSX:IMO)(NYSE:IMO), Brookfield Infrastructure Partners L.P. (TSX:BIP.UN)(NYSE:BIP), and Loblaw Companies Limited (TSX:L) will shield investors against an impending economic downturn.
Hunting for a bargain? This group of beaten-down stocks, including BlackBerry Ltd (TSX:BB)(NYSE:BB), might provide the value you're looking for.