Epsilon Energy (NASDAQ:EPSN) Board of Directors Initiates Stock Buyback Plan

Epsilon Energy (NASDAQ:EPSN) declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 26th, RTT News reports. The company plans to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Epsilon Energy Trading Up 0.8%

Shares of NASDAQ EPSN traded up $0.04 during midday trading on Thursday, reaching $4.91. 132,429 shares of the stock were exchanged, compared to its average volume of 167,458. The stock has a 50 day moving average price of $4.69 and a 200-day moving average price of $4.99. The company has a market capitalization of $146.76 million, a P/E ratio of 18.19 and a beta of -0.05. Epsilon Energy has a 52-week low of $4.20 and a 52-week high of $8.50.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Epsilon Energy in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.40.

Insider Buying and Selling

In related news, major shareholder Solas Capital Management, Llc sold 40,000 shares of the stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $4.63, for a total transaction of $185,200.00. Following the transaction, the insider directly owned 3,554,613 shares in the company, valued at approximately $16,457,858.19. This represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 74,427 shares of company stock valued at $346,720 in the last ninety days. Corporate insiders own 7.10% of the company’s stock.

Epsilon Energy Company Profile

Epsilon Energy (NASDAQ: EPSN) is an independent exploration and production company specializing in the acquisition, development and production of unconventional and conventional oil and natural gas properties. Originally founded as Brewster Energy in 2002 and rebranded to Epsilon Energy in 2011, the company pursues a disciplined approach to resource development, leveraging its technical expertise to optimize well performance and manage operational costs.

The company’s core asset base is concentrated in the Appalachian Basin, where it holds acreage in key shale formations across Pennsylvania, West Virginia and Ohio.