Energy Services of America (NASDAQ:ESOA) Issues Earnings Results, Beats Expectations By $0.17 EPS

Energy Services of America (NASDAQ:ESOA) issued its earnings results on Monday. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.17, Zacks reports. The firm had revenue of $93.17 million during the quarter, compared to the consensus estimate of $80.90 million.

Energy Services of America Price Performance

ESOA stock traded down $1.34 during mid-day trading on Wednesday, reaching $17.74. 202,372 shares of the company traded hands, compared to its average volume of 197,867. Energy Services of America has a fifty-two week low of $7.84 and a fifty-two week high of $19.94. The firm’s 50 day moving average price is $14.68 and its 200 day moving average price is $11.60.

Energy Services of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. Energy Services of America’s payout ratio is 65.57%.

Insider Transactions at Energy Services of America

In related news, President Douglas V. Reynolds purchased 4,809 shares of the business’s stock in a transaction on Friday, March 20th. The stock was acquired at an average price of $13.26 per share, for a total transaction of $63,767.34. Following the purchase, the president owned 1,481,270 shares of the company’s stock, valued at approximately $19,641,640.20. This trade represents a 0.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 44.68% of the company’s stock.

Hedge Funds Weigh In On Energy Services of America

A number of hedge funds have recently added to or reduced their stakes in ESOA. Goldman Sachs Group Inc. boosted its stake in Energy Services of America by 15.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 50,543 shares of the company’s stock valued at $478,000 after purchasing an additional 6,917 shares during the last quarter. Geode Capital Management LLC boosted its stake in Energy Services of America by 111.3% during the 2nd 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 during the last quarter. JPMorgan Chase & Co. acquired a new position in Energy Services of America during the 2nd quarter valued at about $56,000. XTX Topco Ltd acquired a new position in Energy Services of America during the 2nd quarter valued at about $161,000. Finally, Russell Investments Group Ltd. acquired a new position in Energy Services of America during the 2nd quarter valued at about $156,000. Institutional investors and hedge funds own 2.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings lowered Energy Services of America from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. Wall Street Zen raised Energy Services of America from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $25.00 target price on shares of Energy Services of America in a research report on Tuesday. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.