Empire Petroleum Completes Fully Subscribed $10 Million Rights Offering

Empire Petroleum ( (EP) ) has provided an announcement.

On March 19, 2026, Empire Petroleum announced that its previously launched rights offering, which expired on March 18, 2026, was fully subscribed and generated approximately $10 million in gross proceeds at a subscription price of $2.99 per share. Investor demand exceeded the securities available, so shareholders will receive their basic subscription rights while oversubscribed shares are allocated on a pro-rata basis, signaling solid shareholder support and bolstering the company’s capital base for its ongoing oil and gas strategy.

The most recent analyst rating on (EP) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Empire Petroleum stock, see the EP Stock Forecast page.

Spark’s Take on EP Stock

According to Spark, TipRanks’ AI Analyst, EP is a Neutral.

The score is primarily held down by weak financial performance (deepening losses, negative equity, and negative operating cash flow). Technicals are also soft with the price below key moving averages, while valuation is constrained by a negative P/E. Corporate actions provide some support through added funding and strategic expansion, but they also underscore ongoing capital needs.

To see Spark’s full report on EP stock, click here.

More about Empire Petroleum

Empire Petroleum Corporation is a publicly traded, Tulsa-based oil and gas producer with current producing assets across New Mexico, North Dakota, Montana, Texas and Louisiana. The company focuses on organic growth and targeted acquisitions of proved developed assets that create operational synergies with its existing portfolio of wells.

Average Trading Volume: 62,963

Technical Sentiment Signal: Sell

Current Market Cap: $108.7M

Find detailed analytics on EP stock on TipRanks’ Stock Analysis page.