Over the course of the past months, Houston Natural Resources Corporation (OTC:HNRC) has been one of the companies to have made significant moves. It is perhaps no wonder that the stock has also managed to get considerable attention from investors as a consequence.

On Thursday, the stock had come into focus after Houston Natural Resources Corporation came up with a summary of some of its recent milestones and achievement. In addition to that, the company also provided key information with regard to its strategic targets for 2023. It could be a good idea for investors to consider taking a look at some of the highlights from the updates provided by the company yesterday.

One of the major highlights for the company in 2022 was that of spinning off its non-energy assets into a subsidiary known as Worldwide Diversified Holdings Inc. In addition to that, shareholders in Houston Natural Resources Corporation were paid dividends in the new entity.

Another important development in 2022 was that of picking up a 9.9% stake in the company Cunningham Energy LLC. However, in this regard, it ought to be noted that the company also announced that it had inked a letter of intent which indicated that the company could eventually take its stake to as much as 100%.

In addition to that, Houston Natural Resources Corporation also employed the services of an independent energy company for the purpose of evaluating the value of the assets of Cunningham Energy. Houston Natural Resources Corporation further announced that in 2023 it was going to work on its strategies to open up more value for its shareholders.

It announced yesterday that it was going to engage the services of an underwriter for a $10 million commitment with regards to the uplisting of the Houston Natural Resources Corporation stock to a major exchange in 2023.

By Ankit Singhania

Based in India, Ankit is a financial content writer and stock market analyst. He has worked for more than a decade on several financial projects related to stock market news, fundamental research and technical analysis for several websites. He obtained his Masters Degree In finance (MS – finance) from ICFAI.

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