Needham Investment Management LLC Has $4.78 Million Stock Position in Energy Services of America Co. $ESOA

Needham Investment Management LLC lifted its stake in Energy Services of America Co. (NASDAQ:ESOA) by 67.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 585,440 shares of the company’s stock after acquiring an additional 235,440 shares during the quarter. Needham Investment Management LLC’s holdings in Energy Services of America were worth $4,783,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ESOA. BNP Paribas Financial Markets increased its position in shares of Energy Services of America by 137.6% in the third quarter. BNP Paribas Financial Markets now owns 2,390 shares of the company’s stock valued at $25,000 after acquiring an additional 1,384 shares during the last quarter. Larson Financial Group LLC increased its position in shares of 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 acquiring an additional 1,314 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Energy Services of America in the second quarter valued at about $44,000. JPMorgan Chase & Co. acquired a new stake in shares of Energy Services of America in the second quarter valued at about $56,000. Finally, Bank of America Corp DE grew its holdings in Energy Services of America by 5,900.0% during the second quarter. Bank of America Corp DE now owns 5,760 shares of the company’s stock worth $57,000 after purchasing an additional 5,664 shares during the period. Institutional investors and hedge funds own 2.13% of the company’s stock.

Energy Services of America Stock Performance

Shares of NASDAQ:ESOA opened at $16.70 on Tuesday. Energy Services of America Co. has a 12-month low of $7.84 and a 12-month high of $19.94. The business has a 50 day moving average of $16.03 and a 200-day moving average of $12.65.

Energy Services of America (NASDAQ:ESOA) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.17. The firm 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, March 31st. Energy Services of America’s payout ratio is currently 65.57%.

Wall Street Analyst Weigh In

ESOA has been the subject of a number of research analyst reports. Lake Street Capital reiterated a “buy” rating and set a $25.00 price target on shares of Energy Services of America in a report on Tuesday, May 12th. Weiss Ratings upgraded Energy Services of America from a “hold (c-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Insider Activity at Energy Services of America

In related news, Director Mark Prince sold 33,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $17.80, for a total value of $587,400.00. Following the completion of the sale, the director directly owned 67,071 shares in the company, valued at approximately $1,193,863.80. The trade was a 32.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Douglas V. Reynolds purchased 4,809 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was bought at an average price of $13.26 per share, with a total value of $63,767.34. Following the completion of the purchase, the president owned 1,481,270 shares of the company’s stock, valued at $19,641,640.20. This trade represents a 0.33% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 233,000 shares of company stock worth $3,813,537. Company insiders own 44.68% of the company’s stock.

Energy Services of America 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.