Imperial Oil Stock Price, News & Analysis

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) has received approval from the Toronto Stock Exchange for a normal course issuer bid (NCIB) to repurchase up to 35,583,671 shares, representing 5% of its outstanding shares, over the next year starting June 29, 2021. This initiative reflects the company’s strong cash generation and commitment to return capital to shareholders. ExxonMobil, the majority shareholder, plans to sell shares concurrently to maintain its ownership. The previous program expired on June 28, 2021, under which Imperial repurchased 7,522,148 shares.

The Oil Sands Pathways to Net Zero initiative has been launched by Canadian Natural Resources, Cenovus Energy, Imperial, MEG Energy, and Suncor Energy, targeting net zero greenhouse gas emissions from oil sands operations by 2050. This collaboration aims to align with Canada's climate goals, including the Paris Agreement commitments. Key components involve a Carbon Capture, Utilization and Storage (CCUS) trunkline linked to a carbon sequestration hub and investment in new technologies. The initiative is anticipated to contribute over $3 trillion to Canada’s GDP in the next 30 years while also creating jobs.

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) held its annual shareholder meeting on May 4, 2021, where all seven proposed nominees for the board of directors were elected. A total of 674,344,229 shares, representing 91.86% of outstanding common shares, were cast during the election. Notable votes included David Cornhill receiving 649,845,433 votes in favor and 24,498,796 withheld. Imperial Oil remains dedicated to innovation and high standards in responsibly developing Canada's energy resources as the country’s largest petroleum refiner.

Imperial Oil declared a quarterly dividend of 27 cents per share, payable on July 1, 2021, to shareholders of record as of June 3, 2021. This marks an increase from the 22 cents per share dividend in the previous quarter. The company has a robust history, paying dividends annually for over a century and increasing them for 26 consecutive years. As Canada's largest petroleum refiner and a significant crude oil producer, Imperial is committed to high standards and innovation in developing energy resources responsibly.

Imperial Oil Limited (TSX, NYSEAM: IMO) reported a net income of $392 million for Q1 2021, a significant recovery from a $188 million loss in Q1 2020. The cash flow from operating activities surged to $1.045 billion, boosted by improved crude prices and operational efficiency. Upstream production reached 432,000 gross oil-equivalent barrels per day, a 30-year high. The company reinstated a share buyback program, aiming to repurchase up to 4% of outstanding shares by June 28, 2021, and raised its quarterly dividend by 23% to 27 cents per share.

Imperial Oil Limited (TSE:IMO, NYSE American: IMO) will host its 2021 First Quarter Earnings Call on April 30 at 9 a.m. MT, following the earnings release earlier that day. CEO Brad Corson and VP of Investor Relations Dave Hughes will discuss key financial results and take questions from analysts. The event will be accessible via webcast and archived on the company's website for one year. Imperial Oil, Canada’s largest petroleum refiner and significant crude oil producer, emphasizes its commitment to technology and high standards in the energy sector.

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced a quarterly dividend of 22 cents per share, payable on April 1, 2021, to shareholders on record by March 2, 2021. This marks an unchanged dividend from Q4 2020. With a century-long history in the petroleum industry, Imperial has consistently paid dividends for over 100 years and has raised its annual dividend for 26 consecutive years, showcasing financial stability and growth.

Imperial Oil Limited reported a net loss of $1,146 million in Q4 2020, primarily due to a non-cash impairment charge of $1,171 million. Despite this, the company achieved its highest quarterly upstream production in 30 years, averaging 460,000 barrels per day. Cash flow from operations for the quarter was $316 million, affected by unfavorable working capital impacts. Full-year capital expenditures totaled $874 million, significantly less than in 2019. The company maintained its dividend, returning over $900 million to shareholders.

Imperial Oil Limited (TSE:IMO, NYSE American: IMO) will hold its Fourth Quarter Earnings Call on February 2 at 9 a.m. MT, following its earnings release that morning. Chairman Brad Corson and VP Dave Hughes will discuss the company’s performance and answer analysts' questions. Imperial Oil remains a leader in Canada's energy sector, focusing on responsible development of resources as the largest petroleum refiner and a significant crude oil producer in the country.