Imperial Oil Limited (IMO)

Over the past six months, Imperial Oil's stock price increased by 20.4% as of August 14, 2025, and 13.93% overall. In Q3 2025, net income was $539 million, down from $1,237 million in Q3 2024. Q2 2025 net income fell to C$949 million from C$1 billion due to lower upstream realizations and weaker polyethylene margins. Q1 2025 net income was $1,288 million. Quarterly dividends of $0.72 per share were declared for Q1-Q4 2025. Several firms downgraded Imperial Oil's stock or trimmed price targets due to valuation concerns and the nearing end of the 2025 Normal Course Issuer Bid (NCIB). The stock crossed below its 200-day moving average, with a "Reduce" consensus rating.

Demand for Imperial Oil's products is seasonal, influenced by weather and economic activity. Gasoline demand rises in the summer due to increased travel, while heating oil and natural gas demand surge in the winter. Diesel demand is linked to economic activity. Natural gas demand is higher in winter, requiring storage for supply reliability. The chemical industry experiences seasonal shifts influenced by weather, agricultural cycles, and holidays.

Imperial Oil Ltd. (IMO) is an integrated energy company in Canada, involved in the exploration, production, and sale of crude oil and natural gas. It operates in the Energy Minerals sector and Integrated Oil industry, producing crude oil, natural gas, synthetic oil, and bitumen. Downstream, it refines crude oil into petroleum products like gasoline and diesel, marketed under the Esso and Mobil brands. The Chemical segment manufactures hydrocarbon-based chemicals.

Imperial Oil's operations are primarily in Canada, with upstream activities in the Alberta oil sands and Norman Wells oil field. It operates refineries in Strathcona, Sarnia, and Nanticoke, and has a distribution system to transport petroleum products via pipeline, tanker, rail, and road.

Imperial Oil maintains a strong brand and market position due to its integrated business model. Regulatory and environmental pressures pose ongoing threats, with stricter emissions regulations potentially increasing compliance costs. Amendments to Canada's Competition Act regarding environmental communications are being reviewed, highlighting sensitivities around environmental messaging.

Imperial Oil Limited is majority-owned by Exxon Mobil Corporation, holding approximately 67.74% to 69.6% of the shares. Major institutional shareholders include Fmr Llc, First Eagle Investment Management, LLC, Royal Bank Of Canada, Vanguard Group Inc, TD Asset Management Inc, Bank Of America Corp /de/, and FIL Ltd. TD Waterhouse Canada Inc. was the largest institutional holder as of September 30, 2025.