Houston Natural Resources Corporation (OTC:HNRC) Stock Soars After Impressive Earnings

Those who may be interested in energy could do well to keep an eye on the Houston Natural Resources Corporation (OTC:HNRC) stock. The oil and gas company was in focus on March 18 after it announced financial results for the fiscal year ended on December 31, 2023.

It emerged that the company had generated revenues of $21,117,265 for the fiscal year, which worked out to a 2.9% increase from the revenues of $20,516,899 in the previous fiscal year. The total earnings for Houston Natural Resources Corporation in the fiscal year were $11,501,687, which was a 19.3% improvement from the $9,641,297 generated in the 2022 fiscal year.

The company’s earnings per share stood at $0.06 per share, and the net asset value was pegged at $0.42 per share as of December 31, 2023. In addition to traditional oil and gas exploration, the Houston Natural Resources Corporation is also involved in energy transition materials.

The energy transition materials the company is interested in include gold, copper, lithium, and other precious and rare earth metals. Additionally, the company also enumerated the range of milestones that had been reached during the 2023 fiscal year. One of the more important ones was the 100% acquisition of Cunningham Energy LLC.