Update shared on04 Sep 2025
Fair value Increased 0.50%Imperial Oil's fair value metrics, including consensus price target and future P/E ratio, remained essentially unchanged this period, with only marginal increases leading to a slight upward revision in the price target to CA$106.88.
What's in the News
- Imperial Oil reported Q2 gross oil-equivalent production of 427,000 barrels per day, up from 404,000 barrels a year ago; net oil-equivalent production rose to 382,000 barrels per day from 340,000 barrels per day.
- For the first six months, gross oil-equivalent production increased to 418,000 barrels per day versus 408,000 year-over-year; net oil-equivalent production climbed to 372,000 barrels per day from 351,000.
- Net natural gas production declined year-over-year both in Q2 (27 MMcf/d vs 29 MMcf/d) and the six-month period (29 MMcf/d vs 30 MMcf/d).
- Imperial Oil announced a share repurchase program to buy back up to 25,452,248 shares (5% of issued share capital) expiring on June 28, 2026; as of mid-June, the company had just over 509 million shares outstanding.
- No shares had been repurchased under the current buyback program as of the update for the period June 23-30, 2025.
Valuation Changes
Summary of Valuation Changes for Imperial Oil
- The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from CA$106.35 to CA$106.88.
- The Future P/E for Imperial Oil remained effectively unchanged, moving only marginally from 15.36x to 15.44x.
- The Discount Rate for Imperial Oil remained effectively unchanged, moving only marginally from 5.99% to 6.01%.
Disclaimer
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