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Empire Petroleum Corp (EP) stock

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NYSE: EP NYSE Oil & Gas Exploration & Production Next results ~November 12, 2026

D Fundamentals grade

Empire Petroleum Corp is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$1.6

Cash-flow model

Base case. Range ~$1.2–$2.1 across our lower- and higher-growth cases (-4.5%–5.5% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Empire Petroleum Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders3 buying, 2 selling21 purchases and 3 sales by directors and officers, last 12 monthsInsider trades
  • Funds19 adding, 32 cuttingOf 7 active managers that changed their stake, 6 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Empire Petroleum files

Where Empire Petroleum stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $31m, down 20.8% on a year earlier, a smaller fall than the 30.0% decline a quarter earlier. That puts it 33 of 36 for growth among the oil & gas exploration & production companies we cover. Free-cash-flow margin rose to -20.2% from -60.4% a year earlier. Operating margin narrowed to -224.1% from -41.3%. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 0 of our 3 financial-health checks. Our cash-flow model value is $1.57 a share, against a share price of $2.83.

Source: 10-Q filed August 14, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 12, 2026 (estimated)

Empire Petroleum Corp's trailing-twelve-month revenue fell 20.8% year on year, with a free-cash-flow margin of -20.2%. Where it stands out: long-term debt as % of assets of 1.6% ranks 4 of 43 oil & gas exploration & production companies we cover. Where it lags: net margin of -229.6% ranks 56 of 57 oil & gas exploration & production companies we cover.

Our discounted-cash-flow model values the business at ~$1.6 per share in the base case (~$1.2–$2.1 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to -20.8% (+9.1pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Results due soon. Results are expected around 16 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 20.8% over the last 12 months.
  • Loss-making. Operating margin is -224.1%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 182.7 points on a year ago.
  • Burning cash. Free cash flow was -20.2% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 24.7% in a year.

Latest results: FY2026 Q2

Filed August 14, 2026
Revenue
$10m, up 8.6% on a year earlier
Share reaction
+2.9% in the first session after the results on August 17, 2026, against -1.1% for the S&P 500
Next report
November 12, 2026

Empire Petroleum's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-15.5%
  • 1 week-27.4%
  • 1 month-14.6%
  • This year-26.6%
  • 1 year-25.9%
  • 5 years-79.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$31.1M
Operating margin
-224.1%
Net margin
-229.6%
EPS (TTM, diluted)
$-1.96

Growth

Revenue growth
−20.8%
Change in growth rate
+9.1 pts

Cash

Free cash flow (TTM)
-$6.3M
FCF margin
-20.2%
Stock pay % of revenue
2.6%

Earnings

Last results
August 17, 2026
Next results (est.)
November 16, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Empire Petroleum Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Our value per share comes from a discounted-cash-flow model of Empire Petroleum Corp's free cash flow after stock-based pay ( $4.2M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Empire Petroleum Corp as an oil and gas producer, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.78 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Proved-reserve net asset value The SEC standardised measure of the company's proved oil and gas reserves (future net cash flows after tax at SEC average prices, discounted at 10%) less debt and other claims, per share. — Does not apply: share count up 20% since the 2025-12-31 reserve figure (an acquisition): reserves out of date
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$1.6 ~$1.2–$2.1 Included
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (proved-reserve net asset value) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$1.6 ~$1.2–$2.1 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Empire Petroleum Corp with oil and gas producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $1$2$3$4$5$6
8.5% $1$2$2$3$4$5
10% $1$1$2$2$3$4

Valuation multiples over time Market data may be delayed

At fiscal year end 201720182019202020212022202320242025Now
Share price$0.63$0.72$0.68$1.56$12.07$12.30$10.99$7.60$3.04$2.23
Market value$2m$2m$3m$9m$177m$288m$250m$228m$104m$81m
+ Net debt (− = net cash)$59476$1m$8m$15m$4m−$4m−$1m$9m$475000−$469000
Enterprise value$2m$4m$11m$24m$181m$284m$249m$238m$104m$81m
Multiples
Price / sales —5.1x0.6x1.1x6.5x5.4x6.2x5.2x3.0x2.6x
Price / earnings —————40.6x————
Price / free cash flow —6.7x———18.7x—38.1x——
EV / EBITDA ————89.1x26.5x————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

28 /100

Weak moat

How hard Empire Petroleum's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -25.1% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median -60.7%; its worst year was -224.1%.

  • Discipline 7 / 20

    The diluted share count rose 762.6% over five years; stock-based pay has been a median 4.8% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 12, 2026, after the close.

Analysts' consensus

No analyst estimates are published for Empire Petroleum Corp: too few analysts cover it.

Management guidance

Earnings release, August 17, 2026

No numeric guidance in Empire Petroleum Corp's latest earnings release (filed August 17, 2026). Some companies give their outlook only on the earnings call.

Positioning

Short interest
0.0%
of tradable shares
Days to cover
0.07
at average volume
Short interest, 1 month
−99%
to October 15, 2026
Held by institutions
6%
of shares
Held by insiders
59.2%
of shares
Employees
61
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −25.9%

$3.01 on October 31, 2025 to $2.23

ThenNowEffect
Revenue (last 12 months) $39m $31m −20.8%
P/S multiple 2.5x 2.6x +5.7%
Share count 32m 36m −11.4%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
EP+674%+2%−11%−31%−60%−27%
Industry peers (median)+86%+55%−8%+2%−15%+18%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
EP67%42%33%50%42%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
EP−35%−64%−57%−62%−63%−44%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 92% from May 4, 2022 to September 28, 2026. Getting back needed a 1081% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$2.10 – $3.77
From 52-week high
−40.8%
vs 50-day average
−20.5%
vs 200-day average
−21.6%
Volatility (1 year)
74%
Beta vs S&P 500
0.31

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±3.8%
After a week
7 up, 5 down
typical move ±8.4%
After a month
5 up, 7 down
typical move ±13.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 17, 2026 +2.9% −1.1% +15.5% −10.1%
May 15, 2026 +1.1% −1.3% −5.4% −5.0%
March 16, 2026 −0.6% +1.3% −0.6% −7.1%
November 17, 2025 +12.2% −1.8% +6.3% +10.1%
August 14, 2025 +2.0% −0.2% −4.2% −17.3%
May 15, 2025 +1.5% +1.1% +3.1% +43.0%
March 28, 2025 −0.3% −1.4% −16.5% −22.1%
November 15, 2024 −5.5% −0.9% +0.9% +8.2%
August 15, 2024 +12.6% +1.9% +12.3% +9.8%
May 16, 2024 −2.3% −0.1% +11.8% −11.0%
April 1, 2024 +3.5% −0.8% +19.0% +1.4%
February 23, 2024 −0.7% −0.3% −4.8% −14.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Empire Petroleum Corp in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Empire Petroleum Corp
$30M $35M $40M $45M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $39.6M Revenue (TTM), FY23 Q4: $40.1M Revenue (TTM), FY24 Q1: $39.4M Revenue (TTM), FY24 Q2: $42.5M Revenue (TTM), FY24 Q3: $44.7M Revenue (TTM), FY24 Q4: $43.7M Revenue (TTM), FY25 Q1: $43.3M Revenue (TTM), FY25 Q2: $39.2M Revenue (TTM), FY25 Q3: $37.2M Revenue (TTM), FY25 Q4: $34.2M Revenue (TTM), FY26 Q1: $30.3M Revenue (TTM), FY26 Q2: $31.1M $31.1M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $39.6M
FY23 Q4 $40.1M
FY24 Q1 $39.4M
FY24 Q2 $42.5M
FY24 Q3 $44.7M
FY24 Q4 $43.7M
FY25 Q1 $43.3M
FY25 Q2 $39.2M
FY25 Q3 $37.2M
FY25 Q4 $34.2M
FY26 Q1 $30.3M
FY26 Q2 $31.1M
Revenue growth, TTM YoY Empire Petroleum Corp
-40% -20% 0% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -24.3% Revenue growth, TTM YoY, FY23 Q4: -24.2% Revenue growth, TTM YoY, FY24 Q1: -22.0% Revenue growth, TTM YoY, FY24 Q2: -4.6% Revenue growth, TTM YoY, FY24 Q3: 12.9% Revenue growth, TTM YoY, FY24 Q4: 8.9% Revenue growth, TTM YoY, FY25 Q1: 9.8% Revenue growth, TTM YoY, FY25 Q2: -7.7% Revenue growth, TTM YoY, FY25 Q3: -16.8% Revenue growth, TTM YoY, FY25 Q4: -21.6% Revenue growth, TTM YoY, FY26 Q1: -30.0% Revenue growth, TTM YoY, FY26 Q2: -20.8% -20.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -24.3%
FY23 Q4 -24.2%
FY24 Q1 -22.0%
FY24 Q2 -4.6%
FY24 Q3 12.9%
FY24 Q4 8.9%
FY25 Q1 9.8%
FY25 Q2 -7.7%
FY25 Q3 -16.8%
FY25 Q4 -21.6%
FY26 Q1 -30.0%
FY26 Q2 -20.8%
Operating margin (TTM) Empire Petroleum Corp
-300% -200% -100% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -23.7% Operating margin (TTM), FY23 Q4: -29.0% Operating margin (TTM), FY24 Q1: -35.0% Operating margin (TTM), FY24 Q2: -31.6% Operating margin (TTM), FY24 Q3: -31.8% Operating margin (TTM), FY24 Q4: -31.3% Operating margin (TTM), FY25 Q1: -30.6% Operating margin (TTM), FY25 Q2: -41.3% Operating margin (TTM), FY25 Q3: -43.9% Operating margin (TTM), FY25 Q4: -208.5% Operating margin (TTM), FY26 Q1: -240.7% Operating margin (TTM), FY26 Q2: -224.1% -224.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -23.7%
FY23 Q4 -29.0%
FY24 Q1 -35.0%
FY24 Q2 -31.6%
FY24 Q3 -31.8%
FY24 Q4 -31.3%
FY25 Q1 -30.6%
FY25 Q2 -41.3%
FY25 Q3 -43.9%
FY25 Q4 -208.5%
FY26 Q1 -240.7%
FY26 Q2 -224.1%
FCF margin (TTM) Empire Petroleum Corp
-300% -200% -100% 0% 100% FY20 Q1 FY20 Q4 FY21 Q3 FY26 Q2 FCF margin (TTM), FY20 Q1: -72.5% FCF margin (TTM), FY20 Q2: 45.5% FCF margin (TTM), FY20 Q3: 57.9% FCF margin (TTM), FY20 Q4: -28.9% FCF margin (TTM), FY21 Q1: -28.5% FCF margin (TTM), FY21 Q2: -206.9% FCF margin (TTM), FY21 Q3: -91.0% FCF margin (TTM), FY21 Q4: -60.4% FCF margin (TTM), FY25 Q3: 94.1% FCF margin (TTM), FY25 Q4: -11.7% FCF margin (TTM), FY26 Q1: -21.7% FCF margin (TTM), FY26 Q2: -20.2% -20.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY20 Q1 -72.5%
FY20 Q2 45.5%
FY20 Q3 57.9%
FY20 Q4 -28.9%
FY21 Q1 -28.5%
FY21 Q2 -206.9%
FY21 Q3 -91.0%
FY21 Q4 -60.4%
FY25 Q3 94.1%
FY25 Q4 -11.7%
FY26 Q1 -21.7%
FY26 Q2 -20.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 0 0 6 8 27 53 40 44 34 31
EBITDA −1 −1 −3 −14 2 11 −9 −4 −61 −61
Operating income −1 −1 −6 −18 −0 9 −12 −14 −71 −70
Net income −1 −1 −7 −17 −19 7 −12 −16 −72 −71
Diluted EPS −$0.32 −$0.08 −$0.33 −$2.97 −$1.27 $0.30 −$0.55 −$0.54 −$2.12 −$1.96
Growth (year on year)
Revenue — — +>999% +31.9% +250.6% +95.2% −24.2% +8.9% −21.6% −20.8%
EBITDA — — — — — +429.0% −179.5% — — —
Operating income — — — — — — −232.3% — — —
Net income — — — — — — −276.0% — — —
Diluted EPS — — — — — — −283.3% — — —
Margins
EBITDA margin — −193.4% −47.8% −186.9% 7.5% 20.3% −21.3% −10.1% −177.5% −196.2%
Operating margin — −196.8% −105.0% −227.5% −1.7% 16.6% −29.0% −31.3% −208.5% −224.1%
Net margin — −218.5% −113.6% −217.9% −68.7% 13.4% −31.1% −37.1% −210.7% −229.6%
Free-cash-flow margin — 75.6% −9.9% −28.9% −60.4% 29.0% −29.9% 13.8% −11.7% −20.2%
Cash flow
Cash from operations −0 −1 −1 −2 3 18 −10 6 −4 −6
Capital spending 0 −1 −0 1 20 3 2 0 0 0
Free cash flow −0 0 −1 −2 −16 15 −12 6 −4 −6
Stock-based pay — — — 2 — — 3 2 1 1
Free cash flow after stock pay — — — −4 — — −15 4 −5 −7
Balance sheet
Cash 0 0 0 0 4 12 8 2 1 3
Total debt 0 1 8 15 8 8 7 11 2 3
Net debt (negative = net cash) 0 1 8 15 4 −4 −1 9 0 −0
Diluted shares 3m 3m 5m 6m 15m 23m 23m 30m 34m 36m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 3 checks passed · June 30, 2026
What it owns · $81m
Short-term assets $12mLonger-term assets $69m
What it owes, and who funded it · $81m
Short-term liabilities $28mLonger-term liabilities $45mShareholders' equity $7m
  • Short-term assets cover short-term liabilities $12m of assets due within a year against $28m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $12m short-term assets against $45m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$70m against $2m of interest.

From Empire Petroleum Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Days sales outstanding
78 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas exploration & production
Last 12 months unless stated EP KGEI EPSN EPM BSIN MXC Median
Revenue, last 12 months $31m $57m $68m $86m $7m $7m $1.4bn
Revenue growth, last 12 months −20.8% −2.1% 53.7% 0.6% −48.7% −6.1% 10.6%
Revenue growth, 3-year average −11.3% — 8.9% −12.4% −43.7% −8.7% 1.4%
Revenue growth, latest quarter 8.6% — 57.1% 14.7% 5.2% 12.9% 31.5%
Operating margin −224.1% — 1.0% 4.0% −153.7% 22.4% 21.1%
Operating margin, 3-year average −99.0% — 12.6% 6.0% −162.7% 23.4% 16.5%
Net margin −229.6% 27.0% −5.2% −2.8% −155.3% 23.3% 10.1%
Cash from operations / revenue −19.8% 72.3% 38.5% 27.2% −62.1% 57.5% 42.4%
Free-cash-flow margin −20.2% −36.8% — 0.6% −63.4% −10.3% 19.3%
Free-cash-flow margin, 3-year average −36.5% — — 13.0% −28.9% 5.4% 19.1%
Stock pay / revenue 2.6% 3.0% 3.1% 2.7% 28.4% 2.4% 1.5%
Change in share count 24.7% 0.4% 23.2% 2.8% 33.7% −0.5% 0.4%

Median of all 57 companies we cover in oil & gas exploration & production. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 oil & gas exploration & production companies
Measure Company Peer median Rank
Revenue growth Growth -20.8% 10.6% 49 of 57
Change in growth rate Growth +9.1pp +4.9pp 18 of 57
Operating margin Profitability -224.1% 19.9% 41 of 42
Net margin Profitability -229.6% 10.1% 56 of 57
Free-cash-flow margin Cash generation -20.2% 23.2% 46 of 51
Stock pay as % of revenue Cash generation 2.6% 1.2% 36 of 47
Long-term debt as % of assets Balance sheet 1.6% 17.6% 4 of 43
Days sales outstanding Balance sheet 78 days 41 days 41 of 42

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $34.2M 99.9% ▼ 22.3%
Crude Oil $31.6M 92.6% ▼ 23.8%
Natural Gas Liquids Reserves $1.6M 4.7% ▼ 24.2%
Natural Gas Reserves $898,000 2.6% ▲ 161.0%
Other $41,000 0.1% ▼ 12.8%

From Empire Petroleum Corp's 10-K filed March 13, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$6.1M
Institutions reporting
33
Shares held vs prior quarter
▼ 28.5%
Positions opened / closed
9 / 22

Top buyers and sellers, Q2 2026: 19 institutions bought and 32 sold ; the biggest buyer was Millennium Management LLC (+156K shares) and the biggest seller Blackrock, Inc (−696K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Vanguard Capital Management LLC $1.8M 663K 29.1% ▲ 15.2%
Geode Capital Management, LLC $638,968 238K 10.5% ▼ 44.4%
Blackrock, Inc. $567,705 212K 9.3% ▼ 76.7%
Millennium Management LLC $418,077 156K 6.9% New
Vanguard Fiduciary Trust Co $334,150 125K 5.5% ▲ 15.2%
&Partners $297,097 111K 4.9% 0.0%
Jane Street Group, LLC $237,898 89K 3.9% New
Citadel Advisors LLC $177,695 66K 2.9% ▲ 377.5%
Susquehanna International Group, LLP $173,377 65K 2.8% New
Wellington Management Group LLP $168,258 63K 2.8% ▲ 36.4%
Wealth Enhancement Advisory Services, LLC $151,354 57K 2.5% 0.0%
State Street Corp $144,109 54K 2.4% ▼ 74.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Empire Petroleum Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $1.2M 21 trades by 3 insiders, last 12 months Insider sales History → $720,940 3 trades by 2 insiders · 0% under pre-set plans
Net ▲ $499,416 net buying
Insider Date Trade Shares Price Value
Mulacek Phil E Director October 15, 2026 Buy 2,603 $3.20 $8,330
Mulacek Phil E Director October 14, 2026 Buy 69,427 $3.20 $222,166
Mulacek Phil E Director October 12, 2026 Buy 20,073 $3.20 $64,226
Mulacek Phil E Director October 9, 2026 Buy 5,878 $3.08 $18,089
Mulacek Phil E Director October 8, 2026 Buy 4,281 $2.82 $12,068
Mulacek Phil E Director October 7, 2026 Buy 4,023 $2.72 $10,943
Mulacek Phil E Director October 6, 2026 Buy 2,315 $2.72 $6,292
Mulacek Phil E Director October 5, 2026 Buy 14,508 $2.67 $38,765
Mulacek Phil E Director September 30, 2026 Buy 11,915 $2.25 $26,825
Matschke Mason H. Director September 11, 2026 Buy 5,777 $2.38 $13,749
Watson Matthew E. Chief Accounting Officer September 8, 2026 Sell 3,288 $3.13 $10,291
Watson Matthew E. Chief Accounting Officer September 4, 2026 Sell 1,712 $3.12 $5,341

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 16, 2026 estimated from the company's past filing pattern, not announced

  • August 17, 2026
  • May 15, 2026
  • March 16, 2026
  • November 17, 2025
  • August 14, 2025
  • May 15, 2025

Recent SEC filings

Data status

When each part of this page on Empire Petroleum Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Empire Petroleum Corp in brief

What does Empire Petroleum Corp do?
Empire Petroleum Corp is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
What is Empire Petroleum Corp's stock ticker?
Empire Petroleum Corp trades under the ticker EP on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Empire Petroleum Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Empire Petroleum Corp reported revenue of $31.1M, 20.8% lower than a year earlier, according to its SEC filings.
What is Empire Petroleum Corp's free cash flow?
Empire Petroleum Corp's free-cash-flow margin is -20.2% of revenue over the trailing twelve months, ranking 46 of the 51 oil & gas exploration & production companies we cover.
What is Empire Petroleum Corp's model value per share?
Our discounted-cash-flow model of Empire Petroleum Corp's free cash flow after stock-based pay gives ~$1.6 per share in the base case, and ~$1.2–$2.1 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation. No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.
Who are Empire Petroleum Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Vanguard Capital Management LLC, Geode Capital Management, LLC and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Empire Petroleum Corp's market cap?
On November 2, 2026, Empire Petroleum Corp's market capitalisation was about $81.3M and net debt of -$469,000. Market figures come from third-party market data and may be delayed.
Who are Empire Petroleum Corp's competitors?
In our Oil & Gas Exploration & Production peer group, the companies closest to Empire Petroleum Corp are Kolibri Global Energy Inc., Epsilon Energy Ltd., Evolution Petroleum Corp, BIG SKY Industrial Inc. and Mexco Energy Corp. The side-by-side comparison below sets their revenue, margins and growth against Empire Petroleum Corp's.
Are insiders buying or selling Empire Petroleum Corp stock?
Over the last 12 months, Empire Petroleum Corp's directors and officers reported 21 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
When is Empire Petroleum Corp's next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Empire Petroleum Corp announces its own schedule.