Insider Selling: Energy Services of America (NASDAQ:ESOA) Director Sells $705,725.76 in Stock

Energy Services of America Co. (NASDAQ:ESOA) Director Marshall Reynolds sold 43,243 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $16.32, for a total value of $705,725.76. Following the completion of the sale, the director directly owned 1,325,373 shares of the company’s stock, valued at approximately $21,630,087.36. The trade was a 3.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Energy Services of America Price Performance

Shares of ESOA stock opened at $14.93 on Friday. The stock has a 50-day moving average of $15.57 and a 200-day moving average of $12.17. Energy Services of America Co. has a 1-year low of $7.84 and a 1-year high of $19.94.

Energy Services of America (NASDAQ:ESOA) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.17. The company had revenue of $93.17 million during the quarter, compared to analyst estimates of $80.90 million.

Energy Services of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.12 annualized dividend and a dividend yield of 0.8%. Energy Services of America’s dividend payout ratio is presently 65.57%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ESOA. Needham Investment Management LLC lifted its holdings in shares of Energy Services of America by 67.3% in the fourth quarter. Needham Investment Management LLC now owns 585,440 shares of the company’s stock valued at $4,783,000 after purchasing an additional 235,440 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Energy Services of America by 90.4% in the third quarter. Millennium Management LLC now owns 382,589 shares of the company’s stock valued at $3,960,000 after purchasing an additional 181,631 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Energy Services of America by 221.3% in the first quarter. Renaissance Technologies LLC now owns 217,500 shares of the company’s stock valued at $2,856,000 after purchasing an additional 149,800 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Energy Services of America by 111.3% in the second quarter. Geode Capital Management LLC now owns 267,626 shares of the company’s stock valued at $2,661,000 after purchasing an additional 140,986 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Energy Services of America by 51.6% in the second quarter. Balyasny Asset Management L.P. now owns 373,165 shares of the company’s stock valued at $3,709,000 after purchasing an additional 127,016 shares in the last quarter. Institutional investors own 2.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings raised Energy Services of America from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Wall Street Zen raised Energy Services of America from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 14th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $25.00 target price on shares of Energy Services of America in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.00.

About Energy Services of America

Energy Services of America, Inc (NASDAQ: ESOA) is a provider of natural gas compression equipment and services to energy producers, pipeline operators, and landowners across North America. The company designs, manufactures, and distributes compression systems tailored to meet the needs of natural gas gathering, processing and transmission applications. Its offerings include the sale, lease, and repair of both new and reconditioned compression units, as well as aftermarket parts and field services that support ongoing system performance and reliability.

In addition to core compression services, Energy Services of America delivers turnkey solutions for pipeline operators and gas processors.