Energy Services of America (NASDAQ:ESOA) Director Marshall Reynolds Sells 56,757 Shares of Stock

Energy Services of America Co. (NASDAQ:ESOA) Director Marshall Reynolds sold 56,757 shares of Energy Services of America stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $17.19, for a total value of $975,652.83. Following the sale, the director owned 1,368,616 shares in the company, valued at $23,526,509.04. This represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Energy Services of America Stock Performance

NASDAQ ESOA opened at $16.42 on Friday. The stock’s 50 day moving average is $15.53 and its 200 day moving average is $12.15. Energy Services of America Co. has a twelve month low of $7.84 and a twelve month high of $19.94.

Energy Services of America (NASDAQ:ESOA) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.01 earnings per share (EPS) 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 analysts’ expectations of $80.90 million.

Energy Services of America Announces Dividend

The business also recently disclosed 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 presently 65.57%.

Institutional Trading of Energy Services of America

Several large investors have recently modified their holdings of ESOA. Needham Investment Management LLC grew 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 worth $4,783,000 after acquiring an additional 235,440 shares during the period. Millennium Management LLC grew 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 worth $3,960,000 after acquiring an additional 181,631 shares during the period. Renaissance Technologies LLC grew 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 worth $2,856,000 after acquiring an additional 149,800 shares during the period. Geode Capital Management LLC grew 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 worth $2,661,000 after acquiring an additional 140,986 shares during the period. Finally, Balyasny Asset Management L.P. grew 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 worth $3,709,000 after acquiring an additional 127,016 shares during the period. Institutional investors own 2.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Lake Street Capital reiterated a “buy” rating and set a $25.00 price objective on shares of Energy Services of America in a research note on Tuesday, May 12th. Weiss Ratings upgraded Energy Services of America from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded Energy Services of America from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 14th. One 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, Energy Services of America 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.