Energy Services of America (NASDAQ:ESOA) Releases Earnings Results

Energy Services of America (NASDAQ:ESOA) announced its quarterly earnings results on Monday. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05, FiscalAI reports. The company had revenue of $114.11 million during the quarter, compared to the consensus estimate of $97.70 million.

Energy Services of America Trading Up 33.5%

NASDAQ:ESOA opened at $12.68 on Wednesday. Energy Services of America has a twelve month low of $7.64 and a twelve month high of $13.20. The stock has a fifty day simple moving average of $8.70 and a 200-day simple moving average of $9.62.

Energy Services of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.03 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.12 dividend on an annualized basis and a yield of 0.9%. Energy Services of America’s dividend payout ratio (DPR) is presently 65.57%.

Wall Street Analyst Weigh In

ESOA has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Energy Services of America in a report on Monday, December 29th. Wall Street Zen cut Energy Services of America from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Energy Services of America has an average rating of “Moderate Buy” and an average target price of $21.00.

Insider Transactions at Energy Services of America

In related news, Director Marshall T. Reynolds sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $8.37, for a total value of $837,000.00. Following the transaction, the director owned 1,425,373 shares of the company’s stock, valued at $11,930,372.01. This represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Douglas V. Reynolds bought 4,000 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were purchased at an average cost of $8.07 per share, with a total value of $32,280.00. Following the completion of the transaction, the president owned 1,474,961 shares in the company, valued at $11,902,935.27. This represents a 0.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 9,100 shares of company stock worth $75,615 over the last 90 days. Insiders own 44.68% of the company’s stock.

Hedge Funds Weigh In On Energy Services of America

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its holdings in shares of Energy Services of America by 106.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 62,750 shares of the company’s stock valued at $513,000 after acquiring an additional 32,345 shares during the period. Wexford Capital LP boosted its position in Energy Services of America by 7.3% during the third quarter. Wexford Capital LP now owns 201,959 shares of the company’s stock valued at $2,090,000 after purchasing an additional 13,685 shares in the last quarter. Millennium Management LLC boosted its position in Energy Services of America by 90.4% during 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. Larson Financial Group LLC grew its stake in Energy Services of America by 117.1% in the third quarter. Larson Financial Group LLC now owns 2,436 shares of the company’s stock valued at $25,000 after purchasing an additional 1,314 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Energy Services of America by 196.8% in the third quarter. Bank of America Corp DE now owns 17,095 shares of the company’s stock worth $177,000 after purchasing an additional 11,335 shares in the last quarter. Institutional investors own 2.13% of the company’s stock.

Energy Services of America Company Profile

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.