Imperial Petroleum (IMPP) Projected to Post Quarterly Earnings on Monday

Imperial Petroleum (NASDAQ:IMPP) is expected to be issuing its results before the market opens on Monday, December 8th. Analysts expect the company to announce earnings of $0.10 per share and revenue of $41.20 million for the quarter.

Imperial Petroleum (NASDAQ:IMPP) last posted its quarterly earnings data on Friday, September 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.33. The company had revenue of $36.35 million for the quarter, compared to the consensus estimate of $29.72 million. Imperial Petroleum had a net margin of 29.79% and a return on equity of 13.80%. During the same quarter in the previous year, the firm posted $0.73 EPS.

Imperial Petroleum Stock Performance

Shares of IMPP opened at $4.57 on Friday. The company has a 50-day simple moving average of $5.24 and a 200-day simple moving average of $4.01. Imperial Petroleum has a 52 week low of $2.12 and a 52 week high of $6.57. The firm has a market capitalization of $165.53 million, a P/E ratio of 4.48 and a beta of 1.27.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Maxim Group upped their price target on Imperial Petroleum from $5.50 to $6.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Wall Street Zen cut Imperial Petroleum from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Imperial Petroleum in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

Hedge Funds Weigh In On Imperial Petroleum

A hedge fund recently raised its stake in Imperial Petroleum stock. Mercer Global Advisors Inc. ADV boosted its stake in Imperial Petroleum Inc. (NASDAQ:IMPP) by 14.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,000 shares of the company’s stock after buying an additional 20,000 shares during the quarter. Mercer Global Advisors Inc. ADV owned approximately 0.46% of Imperial Petroleum worth $765,000 at the end of the most recent quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.

About Imperial Petroleum

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.