Headquartered in Calgary, AB Fiscal year ends December NYSE MKT: IMO imperialoil.ca
Imperial Oil Limited is an integrated Canadian energy company that is majority-owned (approximately 69.6%) by ExxonMobil. It describes itself as Canada's largest petroleum refiner, a major crude oil producer, a key petrochemical producer and a fuels marketer from coast to coast. It operates in three segments:
- Upstream: oil sands bitumen from the Kearl mine and Cold Lake in-situ operations, a share of Syncrude synthetic crude, plus small conventional oil and gas volumes. Management tracks unit cash operating costs per oil-equivalent barrel at each asset.
- Downstream: refining at Strathcona (including a Renewable Diesel facility processing canola) and Sarnia, plus fuels and lubricants marketing and export sales.
- Chemical: mainly polyethylene and other petrochemicals.
Results are driven by crude marker prices, the WTI/WCS heavy oil differential, industry refining margins and the Canadian dollar exchange rate. The company returns substantial cash to shareholders through quarterly dividends and normal course issuer bid share repurchases. Updated
A 4.89% jump to $134.79 follows this morning's Q3 earnings beat, an outsized one-day move for a $65 billion integrated producer that rarely swings this hard. Keep an eye on whether the gain holds into the close.
Refining carried the quarter: downstream earnings hit a record $1.55 billion, enough to beat on both lines even after a third-party pipeline outage shut Kearl for days and forced a cut to the 2026 production target. Management is accelerating buybacks to finish the current program by year end and says more surplus cash is coming in 2027.
A 4.40% drop to $130.96 takes roughly $2.8 billion off a $63.3 billion energy name that rarely moves this hard in a single session. Whether it holds above the open of $136.99 into the close is the thing to watch.
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Imperial Oil Limited is an integrated Canadian energy company that is majority-owned (approximately 69.6%) by ExxonMobil. It describes itself as Canada's largest petroleum refiner, a major crude oil producer, a key petrochemical producer and a fuels marketer from coast to coast.
24/7 Wall St.'s 12-month price target for IMO is $93.37, rated Sell. The Wall Street consensus target is $108.10. IMO price prediction →
