Walleye Capital LLC Acquires New Holdings in Energy Services of America Co. $ESOA

Walleye Capital LLC bought a new stake in Energy Services of America Co. (NASDAQ:ESOA) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 70,193 shares of the company’s stock, valued at approximately $922,000.

Several other large investors also recently added to or reduced their stakes in the business. Needham Investment Management LLC raised its holdings in shares of Energy Services of America by 67.3% during the 4th quarter. Needham Investment Management LLC now owns 585,440 shares of the company’s stock valued at $4,783,000 after purchasing an additional 235,440 shares in the last quarter. Millennium Management LLC boosted its holdings in 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 purchasing an additional 181,631 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 140,986 shares in the last quarter. Balyasny Asset Management L.P. increased its position in Energy Services of America by 51.6% during the second quarter. Balyasny Asset Management L.P. now owns 373,165 shares of the company’s stock worth $3,709,000 after buying an additional 127,016 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Energy Services of America by 11.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 363,355 shares of the company’s stock worth $2,968,000 after buying an additional 38,575 shares during the last quarter. 2.13% of the stock is owned by institutional investors.

Energy Services of America Stock Performance

ESOA stock opened at $15.94 on Friday. Energy Services of America Co. has a 52-week low of $7.84 and a 52-week high of $19.94. The company has a 50-day moving average of $16.82 and a two-hundred day moving average of $14.39.

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

Energy Services of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.04 dividend. This is an increase from Energy Services of America’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.16 dividend on an annualized basis and a yield of 1.0%. Energy Services of America’s payout ratio is 87.43%.

Insiders Place Their Bets

In other Energy Services of America news, Director Mark Prince sold 33,000 shares of Energy Services of America 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 transaction, the director directly owned 67,071 shares of the company’s stock, valued at $1,193,863.80. The trade was a 32.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Douglas V. Reynolds purchased 6,000 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were acquired at an average price of $16.26 per share, with a total value of $97,560.00. Following the completion of the acquisition, the president owned 1,487,270 shares of the company’s stock, valued at approximately $24,183,010.20. The trade was a 0.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 233,000 shares of company stock valued at $3,813,537 in the last three months. Company insiders own 44.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.