Why These Energy Stocks Are Losing This Week

5. Empire Petroleum Corporation (NYSEAMERICAN:EP)

Share Price Decline Between Apr. 30 – May. 7: 13.94%

Next on our list of Energy Stocks Losing the Most This Week is Empire Petroleum Corporation (NYSEAMERICAN:EP), a conventional oil and natural gas producer with a main focus in the US onshore.

The share price of Empire Petroleum Corporation (NYSEAMERICAN:EP) has plunged by more than 26% over the last month after the company reported a net loss of $16.2 million in FY 2024, against a net loss of $12.5 million the year before. However, EP posted net production volumes of 1,581 barrels of oil per day for last year, up 22% from the same period in 2023. The company’s product revenue for 2024 also grew by 10% YoY, coming in at $44 million.