Marshall Reynolds Sells 43,243 Shares of Energy Services of America (NASDAQ:ESOA) Stock

Energy Services of America Co. (NASDAQ:ESOA) Director Marshall Reynolds sold 43,243 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $16.32, for a total value of $705,725.76. Following the sale, the director owned 1,325,373 shares of the company’s stock, valued at $21,630,087.36. This trade represents a 3.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Energy Services of America Price Performance

Shares of NASDAQ ESOA traded down $0.13 during mid-day trading on Thursday, hitting $16.42. 220,139 shares of the company were exchanged, compared to its average volume of 198,848. The stock has a 50 day simple moving average of $15.46 and a 200-day simple moving average of $12.11. Energy Services of America Co. has a 1-year low of $7.84 and a 1-year high of $19.94.

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

Energy Services of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, March 31st. Energy Services of America’s dividend payout ratio is currently 65.57%.

Institutional Trading of Energy Services of America

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Walleye Capital LLC acquired a new position in Energy Services of America during the first quarter worth about $922,000. Bank of New York Mellon Corp lifted its position in shares of Energy Services of America by 18.6% during the 1st quarter. Bank of New York Mellon Corp now owns 156,152 shares of the company’s stock valued at $2,050,000 after acquiring an additional 24,447 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of Energy Services of America during the 1st quarter worth approximately $361,000. Calamos Advisors LLC purchased a new stake in shares of Energy Services of America during the 1st quarter worth approximately $139,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of Energy Services of America in the 1st quarter worth approximately $220,000. Institutional investors and hedge funds own 2.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ESOA. Weiss Ratings raised Energy Services of America from a “hold (c-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Wall Street Zen raised Energy Services of America from a “hold” rating to a “strong-buy” rating in a report on Saturday, February 14th. Finally, Lake Street Capital restated a “buy” rating and issued a $25.00 price target on shares of Energy Services of America in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Services of America has an average rating of “Moderate Buy” and a consensus target price 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.