Energy Services of America (NASDAQ:ESOA) Stock Falls 2.5% – Here’s Why

Energy Services of America Co. (NASDAQ:ESOA)’s share price dropped 2.5% during trading on Thursday. The stock traded as low as $9.04 and last traded at $9.14. Approximately 77,177 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 166,892 shares. The stock had previously closed at $9.37.

Analyst Upgrades and Downgrades

ESOA has been the topic of a number of analyst reports. Zacks Research upgraded shares of Energy Services of America to a “hold” rating in a research note on Tuesday, September 15th. Weiss Ratings lowered shares of Energy Services of America from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 26th. Wall Street Zen cut shares of Energy Services of America from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Roth Capital started coverage on shares of Energy Services of America in a research note on Thursday, September 24th. They issued a “buy” rating and a $20.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Energy Services of America Stock Up 1.3%

The company’s 50 day moving average price is $10.97 and its two-hundred day moving average price is $14.35.

Energy Services of America (NASDAQ:ESOA) last announced its earnings results on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $130.01 million for the quarter, compared to the consensus estimate of $112.65 million.

Energy Services of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, September 30th. Energy Services of America’s dividend payout ratio (DPR) is currently 87.43%.

Institutional Trading of Energy Services of America

Several hedge funds have recently bought and sold shares of the stock. Copeland Capital Management LLC lifted its stake in shares of Energy Services of America by 134.7% during the 3rd quarter. Copeland Capital Management LLC now owns 10,857 shares of the company’s stock valued at $121,000 after buying an additional 6,232 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Energy Services of America by 61.0% in the 2nd quarter. Squarepoint Ops LLC now owns 75,850 shares of the company’s stock worth $1,467,000 after buying an additional 28,738 shares during the period. Raffles Associates LP purchased a new stake in Energy Services of America in the 2nd quarter worth $2,793,000. Bank of America Corp DE purchased a new stake in Energy Services of America in the 2nd quarter worth $2,364,000. Finally, PDT Partners LLC purchased a new stake in Energy Services of America in the 2nd quarter worth $763,000. Institutional investors own 2.13% of the company’s stock.

About Energy Services of America

Energy Services of America Corporation (NASDAQ: ESOA) is a Huntington, West Virginia-based holding company that provides construction, maintenance and related services for energy and infrastructure customers. Through its operating subsidiaries, the company serves the natural gas, oil, water, wastewater, electric utility and industrial markets.

The company’s services include the construction and repair of natural gas and petroleum pipelines, compressor and metering stations, utility distribution systems, water and sewer infrastructure, and other industrial facilities.