Energy Services of America (NASDAQ:ESOA) Trading Down 2.5% – Here’s What Happened

Energy Services of America Co. (NASDAQ:ESOA) shares traded down 2.5% on Tuesday . The stock traded as low as $14.51 and last traded at $14.76. 62,485 shares changed hands during trading, a decline of 71% from the average session volume of 212,126 shares. The stock had previously closed at $15.14.

Analyst Ratings Changes

ESOA has been the topic of a number of recent research reports. 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Energy Services of America in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Energy Services of America presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Energy Services of America Price Performance

The firm’s 50 day moving average price is $14.11 and its two-hundred day moving average price is $11.07.

Energy Services of America (NASDAQ:ESOA) last released its quarterly earnings data on Monday, February 9th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $114.11 million during the quarter, compared to the consensus estimate of $97.70 million.

Energy Services of America Dividend Announcement

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

Insider Buying and Selling at Energy Services of America

In other Energy Services of America news, President Douglas V. Reynolds acquired 4,809 shares of the stock in a transaction dated Friday, March 20th. The stock was purchased at an average cost of $13.26 per share, for a total transaction of $63,767.34. Following the acquisition, the president owned 1,481,270 shares in the company, valued at $19,641,640.20. The trade was a 0.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 44.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in Energy Services of America by 117.1% during the 3rd quarter. Larson Financial Group LLC now owns 2,436 shares of the company’s stock valued at $25,000 after acquiring an additional 1,314 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Energy Services of America by 137.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,390 shares of the company’s stock worth $25,000 after buying an additional 1,384 shares during the last quarter. Raymond James Financial Inc. bought a new position in Energy Services of America during the 2nd quarter valued at approximately $44,000. JPMorgan Chase & Co. bought a new position in Energy Services of America during the 2nd quarter valued at approximately $56,000. Finally, Bank of America Corp DE raised its stake in Energy Services of America by 5,900.0% during the second quarter. Bank of America Corp DE now owns 5,760 shares of the company’s stock valued at $57,000 after buying an additional 5,664 shares during the last quarter. 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.