Imperial Petroleum Inc. (IMPP), a significant producer of crude oil, diluted bitumen, and natural gas, has soared 17.75% in the aftermarket trading session. Consequently, the stock was trading at $3.98 when last checked. During Friday’s regular trading session, the stock went berserk and increased by 53.64% to close the day at $3.38. The surge could mainly be associated with market-related factors, i.e. increased oil prices across the globe owing to geopolitical tensions, which have rocketed oil-related stocks to the extremes. Let’s have some discussion regarding recent developments related to IMPP stock.
2022 Investors Day
On 22nd February, IMPP announced that it would host the 2022 investor day on the 10th of March 2022, i.e. Thursday. The chairman, president, and chief executive officer of the company, Brad Corson, and vice-president, investor relations, Dave Hughes, were to host the event. The management would provide an update regarding the company’s current operational scenario. Also, the business strategy that the company is looking to follow in the current fiscal would be discussed.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
FY 2021 Results
On 1st February, IMPP announced the results for FY 2021. The company generated a net income of $2.4 billion during FY 2021. This depicts an increase of $4.3 billion compared to FY 2020. The diluted income per share for the quarter was $3.48, compared to the diluted loss per share of $2.53 during FY 2020. The capital and exploration expenditures that the company endured during FY 2021 were $1.1 billion versus $874 million during FY 2020. (All the figures in Canadian dollars)
IMPP Declared Dividend
Alongside the results, IMPP also announced the dividend. The company declared a quarterly dividend of 34 cents per share on its outstanding common shares. The dividend would be payable on 1st April 2022 to the shareholders of the record at the close of the market on 3rd March 2022. The Q1 2022 dividend compares with the Q4 2021 dividend of 27 cents per share.
What’s Ahead for IMPP Stock?
Looking ahead, the analysts are of the view that even though IMPP stock holds several positive signals at this point, they are not enough for it to be considered for buying. Hence, the stock should be considered as a hold candidate for the moment while waiting for any further developments.
