Energy Services of America (NASDAQ:ESOA) Stock Lifted to Strong-Buy by Roth Capital

Roth Capital upgraded shares of Energy Services of America (NASDAQ:ESOA) to a strong-buy rating in a report issued on Thursday morning,Zacks reports.

ESOA has been the topic of several other reports. Weiss Ratings lowered Energy Services of America from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 26th. Zacks Research upgraded shares of Energy Services of America to a “hold” rating in a report on Tuesday, September 15th. Finally, Wall Street Zen lowered shares of Energy Services of America from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.50.

Energy Services of America Price Performance

NASDAQ:ESOA opened at $11.09 on Thursday. Energy Services of America has a 52 week low of $7.84 and a 52 week high of $19.94. The firm has a 50 day moving average of $12.97 and a 200 day moving average of $14.83.

Energy Services of America (NASDAQ:ESOA) last released its quarterly earnings results on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $130.01 million during the quarter, compared to analysts’ expectations of $112.65 million.

Energy Services of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, September 30th. Energy Services of America’s dividend payout ratio (DPR) is presently 87.43%.

Institutional Trading of Energy Services of America

Several large investors have recently made changes to their positions in ESOA. BlackRock Inc. purchased a new position in shares of Energy Services of America during the second quarter worth $16,172,000. Needham Investment Management LLC grew its position in 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 worth $4,783,000 after purchasing an additional 235,440 shares during the period. Renaissance Technologies LLC raised its stake in shares of Energy Services of America by 221.3% during the 1st quarter. Renaissance Technologies LLC now owns 217,500 shares of the company’s stock valued at $2,856,000 after buying an additional 149,800 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Energy Services of America by 18.6% during the first quarter. Bank of New York Mellon Corp now owns 156,152 shares of the company’s stock worth $2,050,000 after acquiring an additional 24,447 shares during the period. Finally, Raffles Associates LP purchased a new position in Energy Services of America during the second quarter valued at approximately $2,793,000. 2.13% of the stock is owned by hedge funds and other institutional investors.

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.