HUNTINGTON, WV—Frank S. Lucente, a director at Energy Services of America Corp (NASDAQ:OTC:ESOA), recently sold 5,000 shares of the company's common stock. The shares were sold at an average price of $17.50 each, bringing the total transaction value to $87,500. The sale comes as ESOA shares have surged over 200% in the past year, trading near their 52-week high of $19.83.
Following this sale, Lucente holds 273,337 shares directly. Additionally, there are 38,673 shares indirectly owned through his spouse. This transaction was disclosed in a recent SEC filing, which was signed by Charles Crimmel on behalf of Lucente under a power of attorney. According to InvestingPro, ESOA maintains a "GREAT" financial health score and appears overvalued at current levels, with 8 additional exclusive insights available to subscribers.
In other recent news, Energy Services of America Corporation has completed the acquisition of assets from Tribute Contracting & Consultants, LLC, a move expected to strengthen its position in the regional market and broaden its operational capabilities. The purchase, involving a total price of $24 million, includes $22 million in cash and $2 million in Energy Services Common Stock. Key figures from Tribute, Todd Harrah and Tommy Enyart, will continue their roles within the newly formed subsidiary of Energy Services.
In addition to the acquisition, Energy Services has initiated a quarterly cash dividend of $0.03 per common share, indicating an intent to increase the annual cash dividend from the previous year's total of $0.06 to $0.12. This action underscores the company's commitment to its shareholders.
However, the company also reported the resignation of Mr. Samuel G. Kapourales from his role as a director. His departure did not result from disagreements with the company's management, and no immediate operational or strategic changes are anticipated. These developments offer investors insights into the company's recent activities.
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