Imperial Petroleum (NASDAQ:IMPP) Posts Quarterly Earnings Results

by · The Markets Daily

Imperial Petroleum (NASDAQ:IMPP – Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.76 EPS for the quarter, FiscalAI reports. The business had revenue of $87.07 million for the quarter. Imperial Petroleum had a return on equity of 13.84% and a net margin of 34.99%.

Imperial Petroleum Trading Up 1.3%

NASDAQ:IMPP traded up $0.07 during mid-day trading on Thursday, hitting $5.43. The stock had a trading volume of 393,424 shares, compared to its average volume of 545,717. The company has a 50 day simple moving average of $4.91 and a 200-day simple moving average of $4.79. The stock has a market capitalization of $247.72 million, a price-to-earnings ratio of 3.49 and a beta of 1.27. Imperial Petroleum has a 52 week low of $3.15 and a 52 week high of $6.57.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IMPP shares. Wall Street Zen lowered shares of Imperial Petroleum from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. Maxim Group set a $9.00 price objective on shares of Imperial Petroleum and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Imperial Petroleum in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Check Out Our Latest Analysis on IMPP

Institutional Investors Weigh In On Imperial Petroleum

A number of hedge funds have recently made changes to their positions in IMPP. Mcguire Capital Advisors Inc. acquired a new stake in Imperial Petroleum in the 4th quarter valued at approximately $25,000. Investment Management Associates Inc. ADV bought a new position in shares of Imperial Petroleum in the first quarter worth $51,000. Cetera Investment Advisers acquired a new position in shares of Imperial Petroleum during the first quarter valued at $55,000. Sei Investments Co. bought a new stake in shares of Imperial Petroleum during the first quarter valued at about $63,000. Finally, State of Wyoming bought a new stake in shares of Imperial Petroleum during the first quarter valued at about $70,000. Institutional investors own 94.44% of the company’s stock.

About Imperial Petroleum

(Get Free Report)

Imperial Petroleum Inc provides international seaborne transportation services to oil producers, refineries, and commodities traders. It carries refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals, crude oils, iron ore, coal and grains, and minor bulks, such as bauxite, phosphate, and fertilizers. As of April 1, 2024, the company owned and operated a fleet of six medium range refined petroleum product tankers; one Aframax tanker; two suezmax tankers; and two handysize drybulk carriers with a total capacity of 791,000 deadweight tons.

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