Houston Natural Resources Corporation (OTCMKTS:HNRC) Trades Above Key Moving Averages
It is often noticed investors are often on the lookout for stocks that not only record eye-catching gains but also record considerable trading volumes. By that token, the Houston Natural Resources Corporation (OTCMKTS:HNRC) stock could be one to watch out for this week.
On Monday the stock experienced a breakout in trading volumes and ended up with gains of as much as 23.95%. It hit $0.4399 a share and that was a level that was higher than its 20, 50, and 200 DMA. In this regard, it should also be noted that there may be another factor at play here. Houston Natural Resources Corporation had earlier announced that it was going to pay out as much as $1.75 a share in dividends to all shareholders on December 16, 2022.
Earlier on in the month on November 1, 2022, the company had come into focus after it announced its financial results for the fiscal quarter that had ended on September 30, 2022. In the nine-month period, the company managed to generate revenues of $14,207,619 and that proved to be a 13% year-on-year improvement from the revenues in the prior year period. On the other hand, the net earnings generated by Houston Natural Resources Corporation in the period went up by as much as 29% to hit $8,163,923.
That worked out to earnings per share of $0.16 for the nine-month period. At the end of the above-mentioned period, the net assets under its control hit $93,593,813 and that reflected a year-on-year rise of as much as 27%.
The net asset value or NAV at the end of the period came in at $1.86 a share. It is clear to see that the performance of Houston Natural Resources Corporation had been strong up until that point.