Marshall Reynolds Sells 35,058 Shares of Energy Services of America (NASDAQ:ESOA) Stock

Energy Services of America Co. (NASDAQ:ESOA) Director Marshall Reynolds sold 35,058 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $14.98, for a total transaction of $525,168.84. Following the transaction, the director directly owned 1,225,373 shares in the company, valued at approximately $18,356,087.54. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Energy Services of America Stock Down 0.8%

NASDAQ:ESOA opened at $15.17 on Thursday. Energy Services of America Co. has a fifty-two week low of $7.84 and a fifty-two week high of $19.94. The firm’s fifty day simple moving average is $15.67 and its 200-day simple moving average is $12.27.

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

Energy Services of America Dividend Announcement

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

Analyst Upgrades and Downgrades

ESOA has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Energy Services of America from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Lake Street Capital reissued a “buy” rating and issued a $25.00 price objective on shares of Energy Services of America in a research note on Tuesday, May 12th. Finally, Wall Street Zen raised shares of 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 given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Institutional Investors Weigh In On Energy Services of America

A number of large investors have recently added to or reduced their stakes in ESOA. Needham Investment Management LLC grew its stake in Energy Services of America by 67.3% in the 4th quarter. Needham Investment Management LLC now owns 585,440 shares of the company’s stock valued at $4,783,000 after acquiring an additional 235,440 shares during the last quarter. Millennium Management LLC grew its stake in Energy Services of America by 90.4% in the 3rd quarter. Millennium Management LLC now owns 382,589 shares of the company’s stock valued at $3,960,000 after acquiring an additional 181,631 shares during the last quarter. Renaissance Technologies LLC grew its stake in Energy Services of America by 221.3% in the 1st quarter. Renaissance Technologies LLC now owns 217,500 shares of the company’s stock valued at $2,856,000 after acquiring an additional 149,800 shares during the last quarter. Geode Capital Management LLC grew its stake in Energy Services of America by 111.3% in the 2nd quarter. Geode Capital Management LLC now owns 267,626 shares of the company’s stock valued at $2,661,000 after acquiring an additional 140,986 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in Energy Services of America by 51.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 373,165 shares of the company’s stock valued at $3,709,000 after acquiring an additional 127,016 shares during the last quarter. 2.13% of the stock is owned by institutional investors and hedge funds.

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.