Energy Services of America (NASDAQ:ESOA) Posts Earnings Results, Beats Estimates By $0.01 EPS

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

Energy Services of America Trading Down 14.4%

ESOA opened at $13.23 on Wednesday. The firm has a 50-day moving average price of $16.38 and a 200-day moving average price of $14.98. Energy Services of America has a twelve month low of $7.84 and a twelve month high of $19.94.

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 given a dividend of $0.04 per share. This is a boost from Energy Services of America’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, June 30th. Energy Services of America’s dividend payout ratio (DPR) is 87.43%.

Insider Activity at Energy Services of America

In related news, Director Marshall T. Reynolds sold 35,058 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $14.98, for a total value of $525,168.84. Following the completion of the transaction, the director directly owned 1,225,373 shares of the company’s stock, valued at approximately $18,356,087.54. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Prince sold 33,000 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 $17.80, for a total transaction of $587,400.00. Following the completion of the transaction, the director owned 67,071 shares of the company’s stock, valued at $1,193,863.80. This represents a 32.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 233,000 shares of company stock worth $3,813,537. 44.68% of the stock is owned by corporate insiders.

Institutional Trading of Energy Services of America

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Trexquant Investment LP bought a new position in Energy Services of America in the 4th quarter worth about $86,000. Jump Financial LLC bought a new position in shares of Energy Services of America in the fourth quarter worth approximately $140,000. Verition Fund Management LLC purchased a new stake in Energy Services of America in the fourth quarter valued at approximately $97,000. Wells Fargo & Company MN lifted its position in Energy Services of America by 32.7% during the fourth quarter. Wells Fargo & Company MN now owns 16,926 shares of the company’s stock valued at $138,000 after purchasing an additional 4,167 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in Energy Services of America in the 3rd quarter worth approximately $153,000. 2.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ESOA has been the subject of a number of recent analyst reports. Weiss Ratings downgraded Energy Services of America from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, July 29th. Lake Street Capital reissued a “buy” rating and issued a $25.00 price target on shares of Energy Services of America in a report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.00.

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.