Imperial PetroleumNASDAQ: IMPP

Imperial Petroleum's solid financial results and pristine balance sheet warrant a closer look at the company's 8.75% Series A Cumulative Redeemable Perpetual Preferred Shares. At Friday's closing price of $25.12, the annualized dividend yield calculates to 8.72%. With several preferred stocks issued by larger players in the shipping offering similar or even better yields, I wouldn't chase Imperial Petroleum's preferred shares at current levels.

Imperial Petroleum Inc. (NASDAQ:IMPP ) Q2 2024 Earnings Conference Call August 27, 2024 11:00 AM ET Company Participants Fenia Sakellari - Chief Financial Officer Conference Call Participants Operator Good day and thank you for standing by. Welcome to the Second Quarter and Six Months 2024 Imperial Petroleum Results Conference Call.

ATHENS, Greece, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Imperial Petroleum Inc. is a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services, announced today that it will release its second quarter and six months financial results for the period ended June 30, 2024 before the market opens in New York on August 27, 2024. On August 27, 2024 at 11:00 am ET, the company's management will host a conference call to discuss the results and the company's operations and outlook.

Imperial Petroleum Inc., a ship-owning company specializing in petroleum products, crude oil, and drybulk seaborne transportation services, released its unaudited financial and operating results for the three months ending on March 31, 2024.

Imperial Petroleum has five MR product tankers, two Suezmax crude oil tankers, and 2 Handysize dry bulk carriers. The company's average fleet age is 14.6 years. IMPP has strong financials with zero outstanding debt, ample liquidity, and attractive dividend yield, at 10.0% at the current stock price. IMPP stock trades at 23% P/NAV and below its cash net of total liabilities. Compared to similar-sized shipping companies, Top Ships and Pyxis Tankers, IMPP is also cheap.

Short-squeeze opportunities tend to be rarer today than in years past. Rapid, high-frequency trading and automated management systems mean that short sellers can monitor a stock's status to step in before short squeeze conditions align.

Imperial Petroleum (NASDAQ: IMPP) stock price has had a remarkable run in the past few months. The stock, which bottomed at $1.17 in August last year, has risen by more than 174% to $3.22.

ATHENS, Greece, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Imperial Petroleum Inc. is a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services, announced today that it will release its fourth quarter and twelve months financial results for the period ended December 31, 2023 before the market opens in New York on February 13, 2024.

As the stock market posts substantial numbers since the start of 2024, February has brought further gains for traders, raising interest in opportunities that could quickly rake in a considerable profit.