Why These Energy Stocks Are Losing This Week

8. Empire Petroleum Corporation (NYSE:EP)

Share Price Decline Between Apr. 22 and Apr. 29: 6.12%

Empire Petroleum Corporation (NYSE:EP) is a conventional oil and natural gas producer with a main focus in the US onshore.

Empire Petroleum Corporation (NYSE:EP) stock surged by over 25% earlier this month after the company announced its Q4 2024 results, reporting net production volumes of 1,581 barrels of oil per day, up 22% from the same period in 2023. So the recent downturn could be due to investors booking their profits. Also, despite a sharp uptick in production, EP posted a $16.2 million net loss for FY 2024, against a net loss of $12.5 million the year before.