Energy Services of America (NASDAQ:ESOA) Director Sells $1,019,589.40 in Stock

Energy Services of America Co. (NASDAQ:ESOA) Director Marshall Reynolds sold 64,942 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $15.70, for a total value of $1,019,589.40. Following the completion of the sale, the director owned 1,260,431 shares in the company, valued at $19,788,766.70. The trade was a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Energy Services of America Price Performance

Shares of NASDAQ ESOA traded up $0.38 during midday trading on Tuesday, reaching $15.49. 240,059 shares of the company traded hands, compared to its average volume of 201,230. Energy Services of America Co. has a 52 week low of $7.84 and a 52 week high of $19.94. The stock has a 50-day moving average price of $15.60 and a 200 day moving average price of $12.21.

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

Energy Services of America Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ESOA. BNP Paribas Financial Markets boosted its position in Energy Services of America by 137.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,390 shares of the company’s stock worth $25,000 after acquiring an additional 1,384 shares during the period. Larson Financial Group LLC boosted its position in Energy Services of America by 117.1% during the 3rd quarter. Larson Financial Group LLC now owns 2,436 shares of the company’s stock worth $25,000 after acquiring an additional 1,314 shares during the period. PNC Financial Services Group Inc. boosted its position in Energy Services of America by 80.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,871 shares of the company’s stock worth $38,000 after acquiring an additional 1,283 shares during the period. Raymond James Financial Inc. acquired a new stake in Energy Services of America during the 2nd quarter worth about $44,000. Finally, JPMorgan Chase & Co. acquired a new stake in Energy Services of America during the 2nd quarter worth about $56,000. 2.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ESOA shares. Wall Street Zen upgraded shares of Energy Services of America from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 14th. Weiss Ratings raised Energy Services of America from a “hold (c-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $25.00 target price on shares of Energy Services of America in a report on Tuesday, May 12th. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.