Energy Services of America (NASDAQ:ESOA) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Energy Services of America (NASDAQ:ESOA) issued its quarterly earnings data on Monday. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.17, Zacks reports.

Energy Services of America Stock Performance

ESOA stock traded up $0.33 during midday trading on Monday, reaching $17.64. The stock had a trading volume of 79,656 shares, compared to its average volume of 195,551. The firm has a fifty day simple moving average of $14.54 and a two-hundred day simple moving average of $11.44. Energy Services of America has a 52-week low of $7.83 and a 52-week high of $18.13.

Energy Services of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.03 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. Energy Services of America’s dividend payout ratio (DPR) is 65.57%.

Analyst Ratings Changes

Several brokerages have recently commented on ESOA. Weiss Ratings lowered Energy Services of America from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. Wall Street Zen upgraded Energy Services of America from a “hold” rating to a “strong-buy” rating in a report on Saturday, February 14th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Insiders Place Their Bets

In related news, President Douglas V. Reynolds purchased 4,809 shares of the business’s stock in a transaction on Friday, March 20th. The shares were bought at an average cost of $13.26 per share, with a total value of $63,767.34. Following the transaction, the president owned 1,481,270 shares of the company’s stock, valued at approximately $19,641,640.20. This trade represents a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 44.68% of the company’s stock.

Institutional Investors Weigh In On Energy Services of America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESOA. Vanguard Group Inc. grew its position in shares of Energy Services of America by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 613,541 shares of the company’s stock valued at $6,350,000 after acquiring an additional 11,798 shares during the period. Millennium Management LLC grew its position in shares of Energy Services of America by 90.4% during the 3rd quarter. Millennium Management LLC now owns 382,589 shares of the company’s stock valued at $3,960,000 after acquiring an additional 181,631 shares during the period. Balyasny Asset Management L.P. grew its position in shares of Energy Services of America by 51.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 373,165 shares of the company’s stock valued at $3,709,000 after acquiring an additional 127,016 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Energy Services of America by 11.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 363,355 shares of the company’s stock valued at $2,968,000 after acquiring an additional 38,575 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Energy Services of America by 111.3% during the 2nd quarter. Geode Capital Management LLC now owns 267,626 shares of the company’s stock valued at $2,661,000 after acquiring an additional 140,986 shares during the period. 2.13% of the stock is owned by institutional investors and hedge funds.

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.