Jonathan Carroll, CEO and President of Blue Dolphin Energy Co. (NASDAQ:BDCO), recently acquired 1,000 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The shares were purchased on January 15 at a price of $3.50 each, amounting to a total transaction value of $3,500. The stock, currently trading at $3.73, has shown strong momentum with a 22% gain over the past week and a remarkable 54% return year-to-date, according to InvestingPro data.
Following this transaction, Carroll directly owns 4,069,779 shares of Blue Dolphin Energy. Additionally, he holds an indirect ownership of 8,426,456 shares through his interest in Lazarus Energy Holdings, LLC. Carroll's dual role as CEO and President, along with his substantial stock holdings, underscores his significant stake in the $55.7 million market cap company. InvestingPro analysis reveals 8 additional key insights about BDCO's financial health and valuation metrics, available to subscribers.
In other recent news, Blue Dolphin Energy Company has seen significant developments in its financial and operational structure. The company recently announced a new lease agreement for its subsidiary, Blue Dolphin Services Co., extending the office lease in Houston, Texas for an additional 24 months. The lease includes a reduction in rent and an increase in total rental area to accommodate personnel growth.
Blue Dolphin also announced the appointment of Bryce D. Klug as the principal financial and accounting officer, Treasurer, and Assistant Secretary. This leadership change is expected to bring extensive experience from the oil and gas sector to the company.
Furthermore, the company's subsidiaries, Lazarus Energy and Lazarus Refining & Marketing, have secured waivers for all covenant violations related to their loan agreements for fiscal years 2021, 2022, and 2023. These waivers were granted by Veritex (NASDAQ:VBTX) Community Bank and the U.S. Department of Agriculture.
In addition, Blue Dolphin Energy recently held its Annual Meeting of Stockholders, where shareholders elected five director nominees and ratified UHY LLP as the company's independent public accounting firm for the fiscal year ending December 31, 2024. These are among the recent developments that have occurred within the company.
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