IMO - IMO

Imperial Oilの空売り状況は、投資家がImperial Oilの株価下落に賭けている度合いを知ることができます。空売りデータは2週間ごとに更新されます。

Imperial Oil (AMEX:IMO) 株価情報, 空売り情報

Imperial Oil

Imperial Oil Ltd is an integrated oil company active in all phases of the petroleum industry in Canada, including the exploration for, and production and sale of, crude oil, natural gas, petroleum products, and petrochemicals. It also pursues lower-emission business opportunities, including carbon capture and storage, hydrogen, lower-emission fuels, and lithium. The company's reportable segments are Upstream, Downstream, and Chemical. Maximum revenue for the company is generated from its Downstream segment, which refines crude oil into petroleum products and distributes and market these products. The Upstream segment explores and produces crude oil, its equivalents, and natural gas, and the Chemical segment manufactures and markets hydrocarbon-based chemicals and chemical products.

Imperial Oil Ltd

Alpha Architect International Quantitative Momentum ETF

ChipMOS TECHNOLOGIES INC. - American Depositary Shares

ChipMOS TECHNOLOGIES Inc

Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) has outperformed the market over the past 5 years by 21.66% on an annualized basis producing an average annual return of 35.49%. Currently, Imperial Oil has a market capitalization of $34.81 billion. 
Buying $1000 In IMO: If an investor had bought $1000 of IMO stock 5 years ago, it would be worth $4,481.65 today based on a price of $68.39 for IMO at the time of writing.
<h3>Imperial Oil's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1746573314_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

News

Trading Ideas

If You Invested $1000 In This Stock 5 Years Ago, You Would Have This Much Today

Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) reported quarterly earnings of $1.75 per share which missed the analyst consensus estimate of $2.10 by 16.67 percent. This is a 6.06 percent increase over earnings of $1.65 per share from the same period last year. The company reported quarterly sales of $8.72 billion which missed the analyst consensus estimate of $13.63 billion by 36.03 percent. This is a 4.31 percent decrease over sales of $9.11 billion the same period last year.

Earnings

Earnings Misses

Imperial Oil Q1 EPS $1.75 Misses $2.10 Estimate, Sales $8.72B Miss $13.63B Estimate

RBC Capital analyst Greg Pardy reiterates Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) with a Sector Perform and maintains $101 price target.

Price Target

Reiteration

Analyst Ratings

RBC Capital Reiterates Sector Perform on Imperial Oil, Maintains $101 Price Target

Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) has outperformed the market over the past 5 years by 26.62% on an annualized basis producing an average annual return of 42.81%. Currently, Imperial Oil has a market capitalization of $36.82 billion. 
Buying $100 In IMO: If an investor had bought $100 of IMO stock 5 years ago, it would be worth $602.83 today based on a price of $72.34 for IMO at the time of writing.
<h3>Imperial Oil's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743522308_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Imperial Oil 5 Years Ago Would Be Worth Today

Goldman Sachs analyst Neil Mehta revised the rating and updated estimates on Thursday for several <a target="_blank" href="https://www.benzinga.com/topic/energy" rel="noreferrer noopener">major American oil companies</a>.
The revision reflects average $75/b Brent oil prices in 2025 and 2026, consistent with the Goldman Sachs Commodities team&#8217;s updated oil range of $65-$80/b, writes the analyst.
PARR: The analyst upgraded Par Pacific Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PARR#NYSE">PARR</a>) from Neutral to Buy and raised the<a target="_blank" href="https://www.benzinga.com/quote/parr/analyst-ratings" rel="noreferrer noopener"> price forecast from $18 to $19.</a>
The bullish stance reflects the company&#8217;s year-to-date underperformance relative to the S&amp;P, highlighting strong upside potential from the Retail and Logistics segment and expectations of a margin rebound in the Singapore region.
Also, the analyst says that PARR&#8217;s Hawaii refining operations are well-positioned to gain from a margin recovery.
Additionally, the analyst remains optimistic about the earnings contributions from the Logistics and Retail segments.
The analyst now estimates 2025-2026 EPS of $0.67 (from $0.79) and $2.97 (from $2.73 prior).
This reflects mark-to-market cracks and commodity prices for the quarter so far, refining capture rate updates, and modifications to throughput, operating expenses, Logistics and Retail earnings, and share repurchases.
IMO: Mehta downgraded Imperial Oil Limited (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) from Neutral to Sell and <a target="_blank" href="https://www.benzinga.com/quote/imo/analyst-ratings" rel="noreferrer noopener">reiterated a price forecast of C$90.00</a>.
The analyst writes that he acknowledges the company&#8217;s strong operational performance, particularly at key assets like Kearl and Cold Lake.
Regardless, Mehta sees its value proposition as less distinct in 2025/2026, with a lower capital returns yield compared to peers.
The analyst estimates cash flow per share of C$2.91 for first-quarter FY25 (vs FactSet consensus of C$3.20).
For 2025-2026, Mehta now estimates EPS estimates of C$8.35 (from C$8.04) and C$9.06 (from C$9.65 prior) vs. consensus of C$8.23 and C$8.94, respectively.
PSX: The analyst also downgraded Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) from Buy to Neutral and <a target="_blank" href="https://www.benzinga.com/quote/psx/analyst-ratings" rel="noreferrer noopener">maintained the price forecast of $132.</a>
Although the analyst appreciates the company&#8217;s diversified business mix, Midstream earnings contributions and cost reduction efforts, he plans to monitor for updates on operational improvements in Refining amid weaker Chemicals margin environment.
Mehta estimates EPS of $7.39 (from $7.69 earlier) for 2025 and $13.17 (from $12.75 prior).
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/03/44512999/chevron-hits-52-week-high-warren-buffetts-5th-largest-holding-is-on-fire-but-should-you-buy" target="_blank" rel="noreferrer noopener">Chevron Hits 52-Week High – Warren Buffett&#8217;s 5th Largest Holding Is on Fire, But Should You Buy?</a></li>
</ul>
Image via Shutterstock.

Analyst Color

Equities

Upgrades

Downgrades

PARR

Goldman Sachs Shifts Oil Sector Outlook: Par Pacific Set For Rebound, Phillips 66 Faces Challenges

WIIM

Imperial Oil shares are trading lower after the company reported Q4 financial results and missed its EPS and sales estimates.

Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) reported quarterly earnings of $1.69 per share which missed the analyst consensus estimate of $2.02 by 16.34 percent. This is a 6.63 percent decrease over earnings of $1.81 per share from the same period last year. The company reported quarterly sales of $9.01 billion which missed the analyst consensus estimate of $17.37 billion by 48.11 percent. This is a 6.42 percent decrease over sales of $9.63 billion the same period last year.

Imperial Oil Q4 2024 GAAP EPS $1.69 Misses $2.02 Estimate, Sales $9.01B Miss $17.37B Estimate

The Q4 earnings report for Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) was released on Friday, January 31, 2025 at 08:00 AM.
Here's what investors need to know about the latest announcement.
<h3>Earnings</h3>
Imperial Oil missed estimated earnings by -22.0%, reporting an EPS of $1.69 versus an estimate of $2.18.
Revenue was down $618.00 million from the same period last year.
<h3>Performance in Previous Earnings</h3>
During the previous quarter, the company beat on EPS by $0.21, leading to a 5.0% drop share price change the next day.
Here's a look at Imperial Oil's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.50</td>
<td>1.42</td>
<td>1.51</td>
<td>1.63</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.71</td>
<td>1.54</td>
<td>1.65</td>
<td>1.81</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>11.24B</td>
<td>9.74B</td>
<td>12.57B</td>
<td>11.88B</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>9.72B</td>
<td>9.78B</td>
<td>9.11B</td>
<td>9.63B</td>
</tr>
</tbody>
</table>

To track all earnings releases for Imperial Oil <a href="https://www.benzinga.com/quote/IMO/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Imperial Oil: Q4 Earnings Insights

<h3>Companies Reporting Before The Bell</h3>
• Novartis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) is estimated to report quarterly earnings at $1.79 per share on revenue of $12.77 billion. 
• Zapp Electric Vehicles (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZAPP#NASDAQ">ZAPP</a>) is projected to report earnings for its Fiscal Year 2024. 
• Dorian LPG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPG#NYSE">LPG</a>) is estimated to report quarterly earnings at $0.70 per share on revenue of $89.89 million. 
• Piper Sandler (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PIPR#NYSE">PIPR</a>) is projected to report quarterly earnings at $3.96 per share on revenue of $452.49 million. 
• WisdomTree (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WT#NYSE">WT</a>) is projected to report quarterly earnings at $0.18 per share on revenue of $111.06 million. 
• RBC Bearings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBC#NYSE">RBC</a>) is estimated to report quarterly earnings at $2.20 per share on revenue of $394.43 million. 
• OneMain Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMF#NYSE">OMF</a>) is projected to report quarterly earnings at $1.15 per share on revenue of $1.20 billion. 
• W.W. Grainger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWW#NYSE">GWW</a>) is likely to report quarterly earnings at $9.74 per share on revenue of $4.24 billion. 
• Virtus Inv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRTS#NYSE">VRTS</a>) is likely to report quarterly earnings at $7.66 per share on revenue of $214.69 million. 
• Eaton Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>) is expected to report quarterly earnings at $2.82 per share on revenue of $6.36 billion. 
• Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) is likely to report quarterly earnings at $2.02 per share on revenue of $13.18 billion. 
• First Hawaiian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FHB#NASDAQ">FHB</a>) is estimated to report quarterly earnings at $0.41 per share on revenue of $203.83 million. 
• Broadridge Financial Soln (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BR#NYSE">BR</a>) is estimated to report quarterly earnings at $1.35 per share on revenue of $1.57 billion. 
• Vestis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSTS#NYSE">VSTS</a>) is likely to report quarterly earnings at $0.12 per share on revenue of $688.89 million. 
• Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) is expected to report quarterly earnings at $1.79 per share on revenue of $88.23 billion. 
• Revvity (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVTY#NYSE">RVTY</a>) is expected to report quarterly earnings at $1.38 per share on revenue of $730.10 million. 
• Janus Henderson Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHG#NYSE">JHG</a>) is projected to report quarterly earnings at $0.97 per share on revenue of $683.02 million. 
• Church &amp; Dwight Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHD#NYSE">CHD</a>) is estimated to report quarterly earnings at $0.76 per share on revenue of $1.57 billion. 
• Aon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) is estimated to report quarterly earnings at $4.26 per share on revenue of $4.21 billion. 
• Badger Meter (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMI#NYSE">BMI</a>) is expected to report quarterly earnings at $1.07 per share on revenue of $201.60 million. 
• Franklin Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEN#NYSE">BEN</a>) is likely to report quarterly earnings at $0.56 per share on revenue of $2.73 billion. 
• Autoliv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALV#NYSE">ALV</a>) is expected to report quarterly earnings at $2.85 per share on revenue of $2.73 billion. 
• LyondellBasell Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>) is likely to report quarterly earnings at $0.95 per share on revenue of $9.49 billion. 
• Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) is likely to report quarterly earnings at $0.94 per share on revenue of $35.07 billion. 
• Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) is expected to report quarterly earnings at $2.40 per share on revenue of $48.68 billion. 
• Charter Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) is estimated to report quarterly earnings at $9.18 per share on revenue of $13.89 billion. 
• Brookfield Business (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBUC#NYSE">BBUC</a>) is likely to report earnings for its fourth quarter. 
• Brookfield Bus Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBU#NYSE">BBU</a>) is estimated to report earnings for its fourth quarter. 
• Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEPC#NYSE">BEPC</a>) is likely to report quarterly loss at $0.36 per share on revenue of $2.01 billion. 
• Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) is expected to report quarterly loss at $0.35 per share on revenue of $1.53 billion. 
• ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) is estimated to report quarterly earnings at $1.12 per share on revenue of $1.01 billion. 
• Gentex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNTX#NASDAQ">GNTX</a>) is likely to report quarterly earnings at $0.48 per share on revenue of $598.58 million. 
• AbbVie (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) is estimated to report quarterly earnings at $2.98 per share on revenue of $14.81 billion. 
• Banco De Chile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCH#NYSE">BCH</a>) is projected to report quarterly earnings at $0.53 per share on revenue of $804.00 billion. 
• Booz Allen Hamilton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) is expected to report quarterly earnings at $1.51 per share on revenue of $2.86 billion. 
• Colgate-Palmolive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>) is likely to report quarterly earnings at $0.90 per share on revenue of $5.05 billion. 
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ABBV

ARCB

BBUC

BEPC

CHTR

GNTX

Janus Henderson Group plc Ordinary Shares

PIPR

RVTY

VRTS

VSTS

ZAPP

Earnings Scheduled For January 31, 2025

The Alberta Energy Regulator (AER) has laid nine charges in relation to an industrial wastewater release at Imperial Oil Resources Limited's Kearl Oil Sands Processing Plant.&nbsp;&nbsp;
The charges are related to a berm overflow of industrial wastewater that occurred at the Kearl plant that was reported to the AER on February 4, 2023.&nbsp;&nbsp;&nbsp;&nbsp;
Six charges, laid under the <a href="https://www.globenewswire.com/Tracker?data=c03FgyUzLLVaR4GuT5_kb7VDQICQKTHeUWT15SgxiCJmdBL7QCCbj3wbU9Sqerfhs5_13sGUosYOgECKZ9BGv0g-jCLTMULshy7ojkcbBudUXVRoqE4-r8mIz2NunqVxmjHnmklcyHoTvl_u56W1rg==">Environmental Protection and Enhancement Act</a>, are as follows:&nbsp;
<ul>
<li>One count for a releasing a substance into the environment that caused or may have caused a significant adverse effect.&nbsp;</li>
<li>One count for failing to report a release as soon as they knew or ought to have known of the release.&nbsp;</li>
<li>One count for failing, as soon as they became aware or ought to become aware of the release, to take all reasonable measures to repair, remedy and confine the effects of the substance.&nbsp;&nbsp;</li>
<li>One count for failing, as soon as they became aware or ought to become aware of the release, to take all reasonable measures to remediate, manage, remove or otherwise dispose of the substance in such a manner as to prevent an adverse effect or further adverse effect.&nbsp;&nbsp;</li>
<li>One count in contravention of approval number 46586-01-00, condition 4.2.1, for releasing substances from the plant to the surrounding watershed.&nbsp;</li>
<li>One count in contravention of approval number 46586-01-00, condition 2.1.1, for not immediately reporting to the AER Director by telephone at 1-780-422-4505.&nbsp;</li>
</ul>
&nbsp;
&nbsp;Three charges, laid under the <a href="https://www.globenewswire.com/Tracker?data=IuWKrH2-A04ZnZYrnGkXnRpORJRVnuYTJ5LjCOCs29MoSaHxdsGF2tY0j1pz7E8qipRHiXs78pGbcQ2q4oBlPyEUp7VWBnXpn903wNTsUC0=">Public Lands Act</a>, are as follows:&nbsp;
<ul>
<li>One count for the accumulation of waste material, debris, refuse, or garbage on public land.&nbsp;</li>
<li>One count for causing the loss or damage of public land.&nbsp;</li>
<li>One count for causing activities on, or the use of, public land that is likely to result in loss or damage to public land.&nbsp;</li>
</ul>
&nbsp;
The company's first appearance in court will be on February 26, 2025, at the Alberta Court of Justice in Fort McMurray.&nbsp;
&nbsp;
For more information, visit the <a href="https://www.globenewswire.com/Tracker?data=3oANaZXUl_zCjYEPFKva0gi2yZnH6luoii3pT4xeYmG5noQtiM3qRH8FMYBcVFAyHIn3ziSopt8rOo3wWQ0WbFOmIQDOERHO0JgQK5u0dQRPPE0G8rKS_9UhUZ2rvwCl3o7jKgv_tHwwcGBjuiy2cQ==">AER Compliance Dashboard</a>.&nbsp;
As this matter is now before the court, the AER will not be providing any&nbsp;additional information.&nbsp;

Legal

Global

Alberta Energy Regulator Lays 9 Charges Against Imperial Oil Resources For Release At Kearl Oil Sands Processing Plant; Charges Related To Berm Overflow Of Industrial Wastewater At Kearl Plant That Was Reported On Feb 4, 2023

Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) has outperformed the market over the past 5 years by 8.57% on an annualized basis producing an average annual return of 20.8%. Currently, Imperial Oil has a market capitalization of $36.16 billion. 
Buying $1000 In IMO: If an investor had bought $1000 of IMO stock 5 years ago, it would be worth $2,572.63 today based on a price of $67.48 for IMO at the time of writing.
<h3>Imperial Oil's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1736952309_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Imperial Oil Stock In The Last 5 Years

Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) has outperformed the market over the past 5 years by 6.01% on an annualized basis producing an average annual return of 18.76%. Currently, Imperial Oil has a market capitalization of $34.01 billion. 
Buying $1000 In IMO: If an investor had bought $1000 of IMO stock 5 years ago, it would be worth $2,363.87 today based on a price of $63.47 for IMO at the time of writing.
<h3>Imperial Oil's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1736261108_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Imperial Oil 5 Years Ago Would Be Worth Today

Wolfe Research analyst Doug Leggate downgrades Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) from Outperform to Peer Perform.

Wolfe Research Downgrades Imperial Oil to Peer Perform

Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) has outperformed the market over the past 5 years by 5.62% on an annualized basis producing an average annual return of 18.39%. Currently, Imperial Oil has a market capitalization of $32.81 billion. 
Buying $1000 In IMO: If an investor had bought $1000 of IMO stock 5 years ago, it would be worth $2,314.74 today based on a price of $61.23 for IMO at the time of writing.
<h3>Imperial Oil's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734967823_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

JP Morgan analyst John M Royall highlighted key trends for the North American Integrated Oils sector entering 2025, with updates on forecasts, price targets, and ratings on major companies.
Rating/Price Target Update:
<ul>
<li>The analyst maintained an Overweight rating and a price target of $125 on Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), citing its defensive characteristics in downside scenarios and portfolio of high-value projects in both <a href="https://www.benzinga.com/quote/xom/analyst-ratings" target="_blank" rel="noreferrer noopener">upstream and downstream operations</a>.</li>
<li>JP Morgan remains &#8216;Not Rated&#8217; on Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) due to its involvement in the HES acquisition.</li>
<li>Also, Royall reiterated the Overweight rating on Cenovus Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVE#NYSE">CVE</a>), viewing it as a unique execution story with the most <a href="https://www.benzinga.com/quote/cve/analyst-ratings" target="_blank" rel="noreferrer noopener">attractive valuation in the coverage group</a>.</li>
<li>The analyst downgraded the rating for Imperial Oil Limited (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) to Underweight from Neutral, citing its low free cash flow yield and free cash flow to <a href="https://www.benzinga.com/quote/imo/analyst-ratings" target="_blank" rel="noreferrer noopener">enterprise value ratios for 2025-2026</a>.</li>
<li>Apart from this, the analyst maintained Neutral rating on Canadian Natural Resources Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNQ#NYSE">CNQ</a>) and Suncor Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SU#NYSE">SU</a>).</li>
</ul>
Sector View: Brent crude is expected to average ~$70/bbl in 2025, down from ~$80/bbl+ in 2024 YTD, driven by global supply growth outpacing demand, adds the analyst.
Royall says downstream performance is likely to remain below mid-cycle, with refined product supply and demand growing in tandem.
The analyst upholds an $80/bbl long-term crude price deck and mid-cycle crack spreads for 2026+, while forecasting ~$70/bbl Brent with flat spreads in 2025.
The analyst writes that defensive positioning should dominate in 2026, favoring U.S. companies with stronger free cash flow, balance sheets, and capital returns compared to Canadian peers.
With crude price scenarios ranging +/-$10/bbl around the base case, the downside case of $70/bbl Brent aligns with current strip prices, underscoring downside risks beyond 2026. Consequently, Royall prioritizes defensive names and companies with unique re-rating opportunities for 2025.
Macro Forecasts Update: The analyst updated the macro forecasts and models since the post-earnings review. The fourth-quarter Brent price deck remains at $75/bbl, in line with quarter-to-date levels and the strip, while the 2025 price deck stays at $70/bbl, consistent with J.P. Morgan&#8217;s outlook.
Royall says that higher Western Canadian Select prices and improved downstream cracks have driven a 9% increase in his fourth-quarter EPS estimates.
For 2025, EPS estimates are raised by 8%, also supported by stronger WCS prices. Despite these adjustments, the projections are 3% below Street estimates for fourth quarter and 27% lower for 2025, reflecting the conservative crude price assumptions and refining outlook, adds the analyst.
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Defensive Oil Stocks To Watch In 2025 Amid $70 Brent Forecast: JP Morgan

Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) has outperformed the market over the past 5 years by 9.57% on an annualized basis producing an average annual return of 23.33%. Currently, Imperial Oil has a market capitalization of $38.69 billion. 
Buying $100 In IMO: If an investor had bought $100 of IMO stock 5 years ago, it would be worth $283.81 today based on a price of $72.20 for IMO at the time of writing.
<h3>Imperial Oil's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1733781730_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) has outperformed the market over the past 5 years by 8.81% on an annualized basis producing an average annual return of 22.63%. Currently, Imperial Oil has a market capitalization of $38.48 billion. 
Buying $100 In IMO: If an investor had bought $100 of IMO stock 5 years ago, it would be worth $268.09 today based on a price of $71.82 for IMO at the time of writing.
<h3>Imperial Oil's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730919794_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 5 Years Ago Would Be Worth $300 Today

RBC Capital analyst Greg Pardy maintains Imperial Oil (TSX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#TSX">IMO</a>) with a Sector Perform and raises the price target from C$99 to C$101.

TSX:IMO

RBC Capital Maintains Sector Perform on Imperial Oil, Raises Price Target to C$101

Imperial Oil shares are trading lower after the company reported mixed Q3 financial results.

Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) reported quarterly earnings of C$2.33 per share which beat the analyst consensus estimate of C$2.00 by 16.5 percent. This is a 15.58 percent decrease over earnings of C$2.76 per share from the same period last year. The company reported quarterly sales of C$13.259 billion which missed the analyst consensus estimate of C$15.636 billion by 15.20 percent. This is a 4.75 percent decrease over sales of C$13.920 billion the same period last year.

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