Imperial Petroleum: Buy On Strong Prospects And Substantial Share Repurchases

Henrik Alex Investing Group Follow Summary Imperial Petroleum reported highly profitable second-quarter results, with record revenues and strong cash generation. Even better, IMPP quietly repurchased a very substantial number of common shares in the latter part of the quarter. With the company literally printing cash and private entities controlled by the Vafias family running out of dropdown inventory, I do not expect further shareholder dilution anytime soon. Imperial Petroleum's third quarter results should set new records across key metrics, partially driven by a massive $32 million gain from the sale of a vintage Suezmax tanker last month. I do much more than just articles at Value Investor's Edge: Members get access to model portfolios, regular updates, a chat room, and more. Learn More » MihailDechev/iStock via Getty Images Note: I have covered Imperial Petroleum Inc. ( IMPP , IMPPP ) previously, so investors should view this as an update to my earlier articles on the company. Following recent positive developments, the company should no longer trade at a This article was written by Henrik Alex 21.12K Followers Follow I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for PricewaterhouseCoopers before becoming a daytrader almost 20 years ago. During this time, I managed to successfully maneuver the burst of the dotcom bubble and the aftermath of the world trade center attacks as well as the subprime crisis.Despite not being a native speaker, I always try to deliver high quality research to followers and the entire Seeking Alpha community. Analyst’s Disclosure: I/we have a beneficial long position in the shares of IMPP either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.