Trump announces trade deal with EU following months of negotiations
US Energy Corp (NASDAQ:USEG), an oil and natural gas company, reported on Tuesday the outcomes of its annual stockholders meeting held on May 16, 2025. The Houston-based corporation, operating under the SIC code for Crude Petroleum & Natural Gas, announced the results of the voting on three proposals detailed in its proxy statement filed on April 22, 2025.
In the first proposal, stockholders elected Duane H. King as a Class Three director to the Board of Directors. King received 8,337,340 votes in favor, with 235,253 withheld and 12,834,054 broker non-votes. The election process followed the plurality voting system, with no opposition to the management’s nominees as listed in the proxy statement.
The second proposal involved ratifying the appointment of Weaver & Tidwell, L.L.P. as the independent auditor for the fiscal year ending December 31, 2025. This proposal was approved with a significant majority of 21,194,721 votes for, 182,230 against, and 29,696 abstentions.
Additionally, the third proposal, which was an advisory vote to approve the compensation of named executive officers, also passed. It saw 8,197,095 votes for, 305,486 against, and 70,012 abstentions, with 12,834,054 broker non-votes.
These results confirm the shareholders’ support for the current management and their strategic decisions regarding leadership and financial auditing. While the company maintains more cash than debt on its balance sheet, InvestingPro analysis indicates rapid cash burn and analysts anticipate a sales decline in the current year. The filing did not mention any further business conducted at the meeting.
This information is based on a press release statement and provides a factual summary of the key outcomes from US Energy Corp’s annual meeting as per the latest SEC filing. InvestingPro subscribers have access to 8 additional key insights about US Energy Corp, including detailed financial health metrics and comprehensive analysis through the Pro Research Report, helping investors make more informed decisions about this energy sector player.
In other recent news, U.S. Energy Corp reported its Q1 2025 earnings, revealing significant challenges as both earnings per share and revenue fell short of analyst expectations. The company posted an EPS of -$0.10, missing the forecasted -$0.05, while revenue came in at $2.19 million, below the anticipated $3.79 million. This performance marks a sharp decline from the previous year’s Q1 revenue of $5.4 million, primarily due to reduced oil sales. Despite these setbacks, U.S. Energy Corp maintains a strong cash position with over $10.5 million and no outstanding debt. The company is also shifting its focus towards helium and CO2 projects in Montana, with a new processing plant expected by early 2026. Analysts have not provided any recent upgrades or downgrades for the company’s stock. U.S. Energy Corp continues to monetize its legacy oil and gas assets while emphasizing its strategic pivot to non-hydrocarbon industrial gas production. The company aims to capitalize on the growing demand in the semiconductor industry, supported by its strong financial position and strategic initiatives.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.