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Energy services of america director sells $556,796 in stock

Published 2024-12-23, 04:32 p/m
ESOA
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Marshall T. Reynolds, a director at Energy Services of America Corp (NASDAQ:OTC:ESOA), has sold a portion of his holdings in the company. According to a recent SEC filing, Reynolds sold 34,713 shares of common stock on December 20, 2024, at a weighted average price of $16.04 per share. The total value of the transaction amounted to $556,796. Following this sale, Reynolds retains direct ownership of 1,525,373 shares in the company. The stock, which has delivered an impressive 197% return over the past year, recently experienced a 15% decline in the past week, with shares currently trading at $14.10. Based on InvestingPro analysis, ESOA appears slightly overvalued at current levels, despite maintaining strong profitability with a 14.2% gross margin and a market capitalization of $265 million. For deeper insights into insider trading patterns and additional metrics, InvestingPro subscribers have access to 8 more key investment tips.

In other recent news, Energy Services of America Corporation has completed the acquisition of assets from Tribute Contracting & Consultants, LLC. The acquisition, costing $24 million, includes $22 million in cash and $2 million in Energy Services Common Stock. This strategic move is expected to enhance Energy Services' regional market position and expand its operational capabilities, including customer contracts, employees, and equipment.

Further developments include the initiation of a quarterly cash dividend of $0.03 per common share. This reflects the board's intention to increase the annual cash dividend from last year's total of $0.06 to $0.12, demonstrating the company's commitment to its shareholders.

In addition, the company has announced the resignation of Mr. Samuel G. Kapourales from his director role. The company has clarified that his departure did not result from any disagreements with the company's management and anticipates no immediate operational or strategic changes following his departure.

These recent developments are based on press release statements from Energy Services of America Corporation and are intended to provide investors with clear and concise details regarding the company's significant transactions and operational updates.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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