The Empire Petroleum Corp (EP) share price is expected to decrease by 100% over the next year. This is based on calculating the average 12-month share price estimate provided by 0 stock analysts who have covered EP. Price targets range from $ at the low end to $ at the high end. The current analyst consensus for EP is a sell. Please note analyst price targets are not guaranteed and could be missed completely.
About 0 Wall Street analysts have assignedEP 0 buy ratings, 0 hold ratings, and 0 sell ratings. This means that analysts expect Empire Petroleum Corp to sell. Keep in mind that these ratings are typically refreshed every quarter, underscoring the importance of conducting your own research on EP. Don't forget to include both technical and fundamental analysis, as well as staying informed on news that could influence these ratings, in your due diligence.
These are the latest 20 analyst ratings of EP.
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When did it IPO
1995
Staff Count
50
Country
United States
Sector/Industry
Energy/Oil & Gas E&P
CEO
Mr. Michael R. Morrisett
Market Cap
$164.5M
In 2023, EP generated $40.1M in revenue, which was a decrease of -24.65% from the previous year. This can be seen as a signal that EP's business is declining, and its share price could be worth less in the future. However, if the company grows faster (or slower) than expected, this could also have a major impact on the future share price.
Revenue From 2020
Revenue From 2021
Revenue From 2022
Revenue From 2023
Summary - Empire Petroleum Corporation's rights offering was fully subscribed, with subscriptions exceeding 100% by the October 24, 2024 deadline. The company has assets in multiple states.
Why It Matters - Empire Petroleum's fully subscribed rights offering indicates strong investor confidence and potential for capital growth, which could enhance the company's financial stability and expansion prospects.
Summary - Empire Petroleum Corporation (NYSE: EP) has extended the expiration date of its subscription rights offering, aiming to raise up to $10 million in gross proceeds.
Why It Matters - Empire Petroleum's extension of its Rights Offering may indicate a strategic move to secure more capital, potentially affecting its financial stability and growth prospects, impacting investor sentiment.
Summary - Empire Petroleum Corporation has launched a subscription rights offering to raise up to $10 million, distributing rights at no charge to current common stockholders.
Why It Matters - Empire Petroleum's rights offering to raise $10 million could impact its stock price and liquidity, potentially signaling growth opportunities or financial strain for investors.
Summary - Empire Petroleum Corporation (NYSE: EP) plans a subscription rights offering to raise up to $10 million, with a record date set for September 30, 2024.
Why It Matters - Empire Petroleum's planned $10 million rights offering may dilute existing shares but also indicates growth potential, impacting stock valuation and investor sentiment.
Summary - Newman Ferrara LLP is investigating potential fiduciary duty breaches by the Board of Empire Petroleum Corporation (NYSE: EP), a Tulsa-based oil and gas producer.
Why It Matters - The investigation into Empire Petroleum's Board could signal potential governance issues, affecting investor confidence and stock performance. Legal challenges may also impact financial stability.
Summary - Empire Petroleum reported a 20% increase in net production volumes in Q2 2024, reaching 2,638 Boe/d, up 24% year-over-year, as it advances its North Dakota drilling program.
Why It Matters - Empire Petroleum's 20% sequential and 24% year-over-year increase in production volumes signals strong operational performance, potentially boosting revenue and investor confidence in the company.