Jonathan Carroll, CEO and president of Blue Dolphin Energy (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 per share, for 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 notable 54% year-to-date return, according to InvestingPro data.
Following this transaction, Carroll directly owns 4,069,779 shares in Blue Dolphin Energy. In addition, he has indirect ownership of 8,426,456 shares through his interest in Lazarus Energy Holdings, LLC. Carroll’s dual role as CEO and president, coupled with his large stock holdings, underscore his significant stake in the company with a market capitalization of $55.7 million. InvestingPro’s analysis reveals 8 additional key insights into BDCO’s financial health and valuation metrics, available to subscribers.
In other recent news, Blue Dolphin Energy has witnessed significant developments in its financial and operational structure. The company recently announced a new lease agreement for its subsidiary Blue Dolphin Services, extending the office lease in Houston, Texas for an additional 24 months. The lease includes a reduction in rent and an increase in gross lease space to accommodate headcount growth.
Blue Dolphin also announced the appointment of Bryce D. Klug to the position of Chief Financial and Accounting Officer, Treasurer and Assistant Secretary. This change in leadership is expected to bring extensive experience from the oil and gas sector to the company.
Furthermore, the Company’s two subsidiaries, Lazarus Energy and Lazarus Refining & Marketing, obtained waivers of all covenant violations related to their loan agreements for fiscal years 2021, 2022, and 2023. These waivers have been granted by Veritex (NASDAQ:) Community Bank and USDA Community Bank.
Additionally, Blue Dolphin Energy recently held its annual shareholder meeting, where shareholders elected five director nominees and certified 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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