IMO - Imperial Oil Limited

NYSE American - NYSE American Delayed Price. Currency in USD
15.38
+0.42 (+2.81%)
At close: 4:00PM EDT
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Previous Close14.96
Open14.98
Bid0.00 x 1000
Ask0.00 x 1100
Day's Range14.91 - 15.39
52 Week Range7.04 - 28.75
Volume414,337
Avg. Volume891,846
Market Cap11.355B
Beta (5Y Monthly)1.98
PE Ratio (TTM)12.69
EPS (TTM)1.21
Earnings DateJan. 31, 2017 - Feb. 06, 2017
Forward Dividend & Yield0.65 (4.33%)
Ex-Dividend DateJun. 03, 2020
1y Target Est32.51
  • Bloomberg

    Pipeline Setbacks in U.S. Rattle Oil-Sands Producers in Canada

    (Bloomberg) -- This week’s escalation of American pipeline setbacks is heightening concerns among Canadian oil producers who export almost all of their crude to the U.S.Alex Pourbaix, the chief executive officer of Cenovus Energy Inc., called a ruling temporarily shutting down the Dakota Access pipeline on Monday “pretty disturbing” in its implications that existing conduits may now be at risk. His concerns were echoed by the CEOs of Suncor Energy Inc. and Exxon Mobil Corp.’s Imperial Oil Ltd.“If that would be the new standard, I think it’s going to be incredibly difficult for anybody to invest in any kind of infrastructure,” Pourbaix, who formerly served as chief operating officer of pipeline giant TransCanada Corp., said Tuesday during a Toronto-Dominion Bank conference. “If there’s an opportunity to come back on those regulatory decisions years after the fact, I think that’s a real significant problem.”Crude from the oil sands, a landlocked area of northern Alberta that holds the world’s third-largest crude reserves, is almost entirely shipped through U.S. pipelines to refineries in the Midwest and Gulf Coast. The lack of enough shipping capacity has been the dominant problem facing the industry for the past several years.On Sunday, U.S. power company Dominion Energy Inc. and partner Duke Energy Corp. said they’re killing the controversial Atlantic Coast gas pipeline, citing ongoing delays and uncertainty on costs. The next day, a U.S. district court ruled that Energy Transfer LP’s Dakota Access pipeline will have to shut down in about a month because a federal permit for the line fell short of environmental requirements. Later that day, the U.S. Supreme Court left in force a lower court order that blocks construction on TC Energy Corp.’s Keystone XL pipeline.Also See: Grim Day for Pipelines Shows They’re Almost Impossible to BuildCanada’s oil-sands industry was counting on recent momentum on key projects like the Trans Mountain expansion that links the oil sands to the Pacific Coast, and the replacement and expansion of Enbridge Inc.’s Line 3, which links Hardisty, Alberta, to Superior, Wisconsin. While producers had grown used to delays on new projects, the ruling on the Dakota Access line was particularly worrying because it had already been operating for three years.Similarly, Canadian producers have also had to deal with a temporary shutdown of Enbridge’s Line 5, which helps carry crude and natural gas liquids to refineries in eastern Canada. A Michigan judge ordered the full line shut down last month after damage was found on a portion of it running through the Great Lakes. While Enbridge was allowed to restart the line a week later, Michigan’s governor and attorney general still are working to force the line to cease operations.Imperial has been looking at using ships and rail to supply Ontario refineries in case the line has an extended shutdown, CEO Brad Corson said Tuesday at the TD Securities conference.“The team worked quite proactively over the last couple of weeks to make sure we had adequate contingency plans in place should Line 5 be interrupted for an extended period of time,” he said.Suncor CEO Mark Little said his company also relies on Line 5 to supply its refineries in Sarnia, Ontario, and Montreal. The company can use rail, ships or a Maine pipeline to supply those facilities, but those are costlier methods, and a shutdown of the line would be a “huge potential threat” and could increase the price of oil products like gasoline in the U.S. and Canada, Little said.“This is something that would impact consumers in all of those markets,” he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • 3 Dividend All-Star Stocks to Buy in July
    The Motley Fool

    3 Dividend All-Star Stocks to Buy in July

    Canadian investors should target dividend all-star stocks like Imperial Oil Ltd. (TSX:IMO)(NYSE:IMO) to beef up their portfolios in July.The post 3 Dividend All-Star Stocks to Buy in July appeared first on The Motley Fool Canada.

  • Reuters

    Michigan court rules to reopen part of Enbridge's Line 5 pipeline

    Canadian pipeline operator Enbridge Inc can restart operations at the west leg of its Line 5 pipeline while the damaged east leg remains shut, a Michigan circuit court judge ruled on Wednesday. The ruling comes after the judge granted the Michigan attorney general's motion for a temporary restraining order last Thursday, requiring Enbridge to halt Line 5 operations. The judge also ruled the company has to disclose details about recent damage to the oil pipeline.

  • Buy Alert: 3 Great Stocks to Buy in July
    The Motley Fool

    Buy Alert: 3 Great Stocks to Buy in July

    Let's take a closer look at three stocks you'll want to buy in July -- names that could have significant short-term moves higher.The post Buy Alert: 3 Great Stocks to Buy in July appeared first on The Motley Fool Canada.

  • Imperial continues limited share repurchase program
    Business Wire

    Imperial continues limited share repurchase program

    Imperial announced today that it has received final acceptance from the Toronto Stock Exchange (TSX) for a limited normal course issuer bid...

  • Will Exxon Mobil Buy This TSX Stock?
    The Motley Fool

    Will Exxon Mobil Buy This TSX Stock?

    Exxon Mobil Corporation (NYSE:XOM) looks ready to make a bit for Imperial Oil Ltd (TSX:IMO)(NYSEMKT:IMO) stock. A takeover could occur soon.The post Will Exxon Mobil Buy This TSX Stock? appeared first on The Motley Fool Canada.

  • Imperial Oil (IMO) Down 3.5% Since Last Earnings Report: Can It Rebound?
    Zacks

    Imperial Oil (IMO) Down 3.5% Since Last Earnings Report: Can It Rebound?

    Imperial Oil (IMO) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • These 3 Canadian Dividend Kings Haven’t Missed a Payout for 100+ Years
    The Motley Fool

    These 3 Canadian Dividend Kings Haven’t Missed a Payout for 100+ Years

    Dividend kings like BCE Inc. (TSX:BCE)(NYSE:BCE) and Bank of Montreal (TSX:BMO)(NYSE:BMO) and their impressive dividend histories would look good in any portfolio. The post These 3 Canadian Dividend Kings Haven't Missed a Payout for 100+ Years appeared first on The Motley Fool Canada.

  • Top High Yield Dividend Stocks on the TSX Index
    The Motley Fool

    Top High Yield Dividend Stocks on the TSX Index

    Avoid high yield traps by investing in companies that are committed to the dividend and are supported by an investment grade credit rating. The post Top High Yield Dividend Stocks on the TSX Index appeared first on The Motley Fool Canada.

  • Imperial Oil (IMO) Q1 Earnings and Sales Beat Estimates
    Zacks

    Imperial Oil (IMO) Q1 Earnings and Sales Beat Estimates

    Imperial Oil (IMO) returns funds worth C$438 million to its shareholders through dividends and share buybacks in the first quarter.

  • Imperial appoints Senior Vice President, Upstream
    Business Wire

    Imperial appoints Senior Vice President, Upstream

    Imperial announced today the appointment of S.P. (Simon) Younger as Senior Vice President, Upstream, effective June 1, 2020...

  • Imperial Oil Limited (IMO) Q1 2020 Earnings Call Transcript
    Motley Fool

    Imperial Oil Limited (IMO) Q1 2020 Earnings Call Transcript

    Ladies and gentlemen, thank you for standing by, and welcome to the Imperial Oil Q1 2020 Earnings Conference Call. Before we start, I'm going to start by noting that today's comments may contain forward-looking information.

  • Imperial reports voting results for election of directors
    Business Wire

    Imperial reports voting results for election of directors

    Imperial announced at its annual meeting of shareholders held on May 1, 2020, that each of the seven nominees proposed as directors of the company...

  • Imperial Oil reports $188M loss as COVID-19 hits workers, slows work schedule
    The Canadian Press

    Imperial Oil reports $188M loss as COVID-19 hits workers, slows work schedule

    CALGARY — Imperial Oil Ltd. is slowing or deferring maintenance work throughout its operations as it tries to ensure employee safety in the wake of a COVID-19 outbreak that has infected 83 workers at its Kearl oilsands mine in northern Alberta.The Calgary-based company said Friday it will start a planned one-month maintenance shutdown of one of its two production trains at Kearl in a few days and extend it by an extra month to late June or early July to allow more distancing between workers.The extension means production at Kearl will fall from the record average of 226,000 barrels per day in the first quarter — and 238,000 bpd in March — to about 150,000 bpd in the second quarter, CEO Brad Corson told a conference call on Friday."This allows us to progress at a more measured pace and greatly reduce the number of people we have working at site at any given time and without affecting the overall scope," he said."It also allows us to complete the work at a time of likely low prices so we can have the asset fully up and running as and when prices recover."He said the company has also reduced the scope of maintenance at its Sarnia, Ont., refinery, will defer planned work at its Sarnia chemical plant and is postponing planned maintenance at its Nanicoke, Ont., and Strathcona (Edmonton) refineries until after this year.Twenty-two of the Kearl workers stricken with the coronavirus have recovered and the others are being monitored or treated as necessary, Corson said.Work at the project is continuing with enhanced physical distancing, cleaning and health screening, along with supplying face masks and moving fewer workers on transport airplanes and buses.Kearl is owned by Imperial at 71 per cent and its parent company, ExxonMobil, with 29 per cent.The record output at Kearl thanks to the introduction of supplemental ore crushers drove overall Imperial production to about 419,000 barrels of oil equivalent per day in the first three months of 2020, up from 388,000 boe/d in the same period last year.Record throughput at its Strathcona refinery helped take its overall processing total to 383,000 barrels per day, the same as a year ago.Corson said demand for jet fuel and gasoline fell significantly in March, while diesel demand dropped by a more moderate amount, due to measures taken to limit the pandemic. However, there are signs demand may be slowly recovering, he added.Imperial reported a net loss of $188 million in the first quarter due to lower commodity prices and non-cash charges of $301 million, with $281 million of that due to a reduction in the value of its inventory as crude oil prices plunged in March and $20 million from a goodwill impairment.It had a net profit of $293 million in the same quarter last year.Fellow oilsands producers Husky Energy Inc. and Cenovus Energy Inc. both reported writedowns and losses earlier this week.Imperial's revenue and other income totalled $6.69 billion in the quarter, down from $7.98 billion in the first quarter of 2019.Imperial’s average realized bitumen price averaged $18.08 per barrel in the first quarter of 2020, compared to $48.85 per barrel in the first quarter of 2019.Crude-by-rail shipments averaged 97,000 bpd from its co-owned Edmonton rail terminal in the first quarter of 2020, up from 53,000 bpd in the fourth quarter of 2019.Shipments by rail fell to about 10,000 bpd in April and are being phased out as pipeline space is freed up amid industry-wide production cutbacks due to current low oil prices, said Corson.Analysts said Imperial beat their expectations on production and on cash flow, the latter thanks to higher profits from its refining and marketing sector.Imperial cut its 2020 capital spending plan at the end of March by $500 million to between $1.1 billion and $1.2 billion and targeted a reduction in expenses by $500 million compared with 2019 levels in an effort to deal with impact of the pandemic.This report by The Canadian Press was first published May 1, 2020.Companies in this story: (TSX:IMO)The Canadian Press

  • Imperial declares second quarter 2020 dividend
    Business Wire

    Imperial declares second quarter 2020 dividend

    Imperial Oil Limited today declared a quarterly dividend of 22 cents per share on the outstanding common shares of the company, payable on July 1, 2020, to shareholders of record at the close of business on June 4, 2020.

  • How Does Imperial Oil's (TSE:IMO) P/E Compare To Its Industry, After Its Big Share Price Gain?
    Simply Wall St.

    How Does Imperial Oil's (TSE:IMO) P/E Compare To Its Industry, After Its Big Share Price Gain?

    Imperial Oil (TSE:IMO) shareholders are no doubt pleased to see that the share price has bounced 53% in the last month...

  • Baystreet

    Stocks in play: Imperial Oil

    Is donating 60 tonnes of isopropyl alcohol (IPA) to be used in disinfectant products, to support the ...

  • Imperial donates critical supplies to support the community
    Business Wire

    Imperial donates critical supplies to support the community

    To support the Government of Canada’s critical emergency response efforts, Imperial is donating 60 tonnes of isopropyl alcohol (IPA)...

  • Imperial thanks our healthcare heroes with free fuel promotion
    Business Wire

    Imperial thanks our healthcare heroes with free fuel promotion

    To salute healthcare heroes across the country, Imperial is providing up to $2 million in free fuel vouchers...

  • What Do Negative Oil Prices Mean for Imperial Oil (TSX:IMO)?
    The Motley Fool

    What Do Negative Oil Prices Mean for Imperial Oil (TSX:IMO)?

    Worried about negative oil prices? Quash those fears by investing in the oil stock with a fortress balance sheet: Imperial Oil (TSX:IMO)(NYSE:IMO).The post What Do Negative Oil Prices Mean for Imperial Oil (TSX:IMO)? appeared first on The Motley Fool Canada.

  • Should You Buy Imperial Oil (TSX:IMO) Stock After the 50% Plunge?
    The Motley Fool

    Should You Buy Imperial Oil (TSX:IMO) Stock After the 50% Plunge?

    Imperial Oil Ltd (TSX:IMO)(NYSEMKT:IMO) is one of the largest oil companies in Canada, but it also has a secret weapon that could make shares a buy.The post Should You Buy Imperial Oil (TSX:IMO) Stock After the 50% Plunge? appeared first on The Motley Fool Canada.

  • Does Imperial Oil Limited (TSE:IMO) Create Value For Shareholders?
    Simply Wall St.

    Does Imperial Oil Limited (TSE:IMO) Create Value For Shareholders?

    Today we'll look at Imperial Oil Limited (TSE:IMO) and reflect on its potential as an investment. Specifically, we're...

  • TSX Stocks: 2 Canadian Bigwigs That Lost 50% in the COVID-19 Crash
    The Motley Fool

    TSX Stocks: 2 Canadian Bigwigs That Lost 50% in the COVID-19 Crash

    These 2 top TSX stocks have fallen to their multi-year low levels amid the brutal coronavirus market crash. Will you enter amid this weakness? The post TSX Stocks: 2 Canadian Bigwigs That Lost 50% in the COVID-19 Crash appeared first on The Motley Fool Canada.

  • Imperial to hold 2020 First Quarter Earnings Call
    Business Wire

    Imperial to hold 2020 First Quarter Earnings Call

    Brad Corson, chairman, president and chief executive officer, and Dave Hughes, vice president investor relations, Imperial Oil Limited, will host a 2020 First Quarter Earnings Call on Friday, May 1, following the company’s first quarter earnings release. The event begins at 9 a.m. MT and will be accessible by webcast.