Douglas Reynolds Buys 6,000 Shares of Energy Services of America (NASDAQ:ESOA) Stock

Energy Services of America Co. (NASDAQ:ESOA) President Douglas Reynolds bought 6,000 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were bought at an average price of $16.26 per share, with a total value of $97,560.00. Following the completion of the transaction, the president directly owned 1,487,270 shares in the company, valued at approximately $24,183,010.20. This trade represents a 0.41% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Energy Services of America Stock Performance

Shares of NASDAQ:ESOA opened at $16.95 on Monday. The firm’s 50 day simple moving average is $16.29 and its 200 day simple moving average is $12.87. Energy Services of America Co. has a fifty-two week low of $7.84 and a fifty-two week high of $19.94.

Energy Services of America (NASDAQ:ESOA) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.17. The firm had revenue of $93.17 million for the quarter, compared to analyst estimates of $80.90 million.

Energy Services of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.04 per share. This is an increase from Energy Services of America’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Energy Services of America’s payout ratio is currently 65.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Needham Investment Management LLC lifted its stake in Energy Services of America by 67.3% during the fourth 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 last quarter. Millennium Management LLC increased its stake in shares of Energy Services of America by 90.4% in the 3rd quarter. Millennium Management LLC now owns 382,589 shares of the company’s stock valued at $3,960,000 after purchasing an additional 181,631 shares during the last quarter. Renaissance Technologies LLC raised its holdings 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 worth $2,856,000 after buying an additional 149,800 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 worth $2,661,000 after buying an additional 140,986 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings 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 worth $3,709,000 after buying an additional 127,016 shares in the last quarter. 2.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ESOA has been the subject of several research reports. Weiss Ratings raised Energy Services of America from a “hold (c-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Lake Street Capital reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Energy Services of America in a report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

About Energy Services of America

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.