IMO

Over the past six months, Imperial Oil's stock price decreased by 1.40%, though it increased by 33.24% over the past year and decreased by 7.44% in the past month. Key events include Q4 2025 earnings of 1.000 CAD EPS, Q1 2026 earnings of 1.940 CAD EPS where earnings fell due to slipped refinery throughput despite increased upstream output, and Q2 2026 earnings of 4.520 CAD EPS which beat estimates with surging net income from higher crude prices and stronger refining margins, despite revenue missing forecasts and a cut in full-year downstream throughput guidance. Imperial Oil declared its Q3 2026 dividend, maintaining its 31-year streak of annual dividend increases, including a 20% increase in January 2026. Analyst sentiment has become more cautious, with an average "Reduce" rating and a 12-month price target of C$146.08, though UBS Group raised its target to C$205.00. The stock declined by 2.337% on September 21, 2026, amidst energy market volatility, with crude oil prices, refining margins, and production performance being key earnings drivers. Operational improvements at Kearl, including unit cash cost reductions and productivity upgrades, along with digitalization and automation investments, are expected to drive sustained margin expansion and cost reductions.