Imperial Petroleum: Good Quarter, Pristine Balance Sheet, Discounted Valuation - Buy [Seeking Alpha]
Imperial Petroleum Inc. - Common Shares (IMPP)
Company Research
Source: Seeking Alpha
Investing Group Leader Follow Summary On Tuesday, Imperial Petroleum reported decent Q2/2024 results with stable fleet utilization and consistent cash generation. The company ended the quarter with $129.8 million in cash and liquid investments. Imperial Petroleum continues to have no debt. Assuming full exercise of the company's remaining Class E Warrants, diluted net asset value per share calculates to $12.45. At current share prices, Imperial Petroleum is trading at a 35% discount to its stated cash balances, with market participants not assigning any value to the company's fleet. For now, I am reiterating "Buy" rating with an unchanged price target of $6, which is based on an approximately 55% discount to my $13 diluted net asset value per share estimate by year-end. Looking for a helping hand in the market? Members of Value Investor's Edge get exclusive ideas and guidance to navigate any climate. Learn More » rgaydos Note: I have covered Imperial Petroleum I
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IMPP
News
- IMPERIAL PETROLEUM INC. Declares Dividend on Series A Preferred SharesGlobeNewswire
- Imperial Petroleum Second Quarter 2024 Earnings: EPS: US$0.70 (vs US$0.90 in 2Q 2023) [Yahoo! Finance]Yahoo! Finance
- Imperial Petroleum Inc. (IMPP) Q2 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
- Imperial Petroleum Inc. Reports Second Quarter and Six Months 2024 Financial and Operating Results [Yahoo! Finance]Yahoo! Finance
- Imperial Petroleum Inc. Reports Second Quarter and Six Months 2024 Financial and Operating ResultsGlobeNewswire
IMPP
Sec Filings
- 9/20/24 - Form 424B3
- 9/20/24 - Form 424B3
- 9/20/24 - Form 424B3
- IMPP's page on the SEC website