Marshall Reynolds Sells 56,757 Shares of Energy Services of America (NASDAQ:ESOA) Stock

Energy Services of America Co. (NASDAQ:ESOA) Director Marshall Reynolds sold 56,757 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $17.19, for a total transaction of $975,652.83. Following the completion of the transaction, the director owned 1,368,616 shares in the company, valued at approximately $23,526,509.04. The trade was a 3.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Energy Services of America Stock Performance

ESOA stock opened at $14.93 on Friday. Energy Services of America Co. has a 12-month low of $7.84 and a 12-month high of $19.94. The company’s fifty day simple moving average is $15.57 and its 200 day simple moving average is $12.17.

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

Energy Services of America Dividend Announcement

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

Wall Street Analyst Weigh In

ESOA has been the subject of several research analyst 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 raised shares of Energy Services of America from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Finally, Lake Street Capital reaffirmed 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

Institutional Investors Weigh In On Energy Services of America

Several hedge funds and other institutional investors have recently made changes to their positions in ESOA. Goldman Sachs Group Inc. increased its position in shares of Energy Services of America by 15.9% during the first quarter. Goldman Sachs Group Inc. now owns 50,543 shares of the company’s stock worth $478,000 after acquiring an additional 6,917 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Energy Services of America by 111.3% during the second quarter. Geode Capital Management LLC now owns 267,626 shares of the company’s stock worth $2,661,000 after acquiring an additional 140,986 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Energy Services of America during the second quarter worth about $56,000. XTX Topco Ltd bought a new stake in shares of Energy Services of America during the second quarter worth about $161,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Energy Services of America during the second quarter worth about $156,000. 2.13% of the stock is owned by institutional investors.

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.