Solas Capital Management, Llc Sells 25,000 Shares of Epsilon Energy (NASDAQ:EPSN) Stock

Epsilon Energy Ltd. (NASDAQ:EPSN) major shareholder Solas Capital Management, Llc sold 25,000 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $5.03, for a total transaction of $125,750.00. Following the completion of the transaction, the insider owned 3,619,613 shares of the company’s stock, valued at approximately $18,206,653.39. This represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Solas Capital Management, Llc also recently made the following trade(s):

• On Friday, September 26th, Solas Capital Management, Llc sold 25,000 shares of Epsilon Energy stock. The shares were sold at an average price of $5.17, for a total transaction of $129,250.00.
• On Thursday, September 25th, Solas Capital Management, Llc sold 24,427 shares of Epsilon Energy stock. The stock was sold at an average price of $5.22, for a total transaction of $127,508.94.

Epsilon Energy Trading Down 3.1%

NASDAQ:EPSN traded down $0.16 during trading hours on Monday, reaching $5.02. 242,191 shares of the company were exchanged, compared to its average volume of 119,175. The stock’s 50-day moving average is $5.83 and its 200-day moving average is $6.67. The firm has a market cap of $110.74 million, a PE ratio of 20.92 and a beta of 0.12. Epsilon Energy Ltd. has a twelve month low of $4.99 and a twelve month high of $8.50.

Epsilon Energy (NASDAQ:EPSN) last posted its quarterly earnings data on Wednesday, August 13th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $11.63 million for the quarter, compared to analyst estimates of $10.50 million. Epsilon Energy had a return on equity of 6.71% and a net margin of 11.75%. As a group, research analysts anticipate that Epsilon Energy Ltd. will post 0.2 EPS for the current year.

Epsilon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.0625 per share. The ex-dividend date is Monday, September 15th. This represents a $0.25 dividend on an annualized basis and a yield of 5.0%. Epsilon Energy’s dividend payout ratio is currently 104.17%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Epsilon Energy from a “buy” rating to a “hold” rating in a research report on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus price target of $7.70.

Institutional Investors Weigh In On Epsilon Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EPSN. Jane Street Group LLC acquired a new stake in Epsilon Energy during the fourth quarter worth $67,000. Ritholtz Wealth Management acquired a new stake in Epsilon Energy during the first quarter worth $151,000. International Assets Investment Management LLC increased its stake in Epsilon Energy by 16.5% during the first quarter. International Assets Investment Management LLC now owns 55,905 shares of the company’s stock worth $395,000 after acquiring an additional 7,900 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Epsilon Energy during the first quarter worth about $107,000. Finally, Y Intercept Hong Kong Ltd boosted its stake in Epsilon Energy by 23.1% during the first quarter. Y Intercept Hong Kong Ltd now owns 16,256 shares of the company’s stock worth $115,000 after buying an additional 3,047 shares during the period. Institutional investors and hedge funds own 60.33% of the company’s stock.

About Epsilon Energy

Epsilon Energy Ltd., a North American onshore independent natural gas and oil company, engages in the acquisition, development, gathering, and production of natural oil and gas reserves in the United States. The company operates through Upstream and Gathering System segments. It has natural gas production in the Marcellus Shale in Pennsylvania; and oil, natural gas liquids, and natural gas production in the Permian Basin in Texas and New Mexico, and Anadarko Basin in Oklahoma.