Energy Services of America (NASDAQ:ESOA) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Energy Services of America (NASDAQ:ESOA) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

ESOA has been the subject of a number of other research reports. Weiss Ratings upgraded Energy Services of America from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday. Lake Street Capital restated a “buy” rating and issued a $25.00 target price on shares of Energy Services of America in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $25.00.

Energy Services of America Price Performance

Energy Services of America stock opened at $12.83 on Friday. The stock has a fifty day moving average of $16.23 and a two-hundred day moving average of $15.01. Energy Services of America 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 released its quarterly earnings results on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $130.01 million during the quarter, compared to analyst estimates of $112.65 million.

Energy Services of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.04 dividend. This is a boost from Energy Services of America’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, June 30th. This represents a $0.16 annualized dividend and a yield of 1.2%. Energy Services of America’s payout ratio is presently 87.43%.

Insiders Place Their Bets

In other Energy Services of America news, President Douglas V. Reynolds acquired 6,000 shares of the stock in a transaction dated Thursday, June 18th. The stock was acquired 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Marshall T. Reynolds sold 64,942 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $15.70, for a total value of $1,019,589.40. Following the completion of the transaction, the director owned 1,260,431 shares of the company’s stock, valued at $19,788,766.70. The trade was a 4.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 233,000 shares of company stock valued at $3,813,537 in the last quarter. 44.68% of the stock is currently owned by company insiders.

Institutional Trading of Energy Services of America

A number of hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its stake in shares of 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 last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Energy Services of America by 137.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,390 shares of the company’s stock worth $25,000 after acquiring an additional 1,384 shares during the period. Legal & General Group Plc acquired a new stake in shares of Energy Services of America in the second quarter worth approximately $26,000. PNC Financial Services Group Inc. boosted its position in shares of Energy Services of America by 80.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,871 shares of the company’s stock worth $38,000 after acquiring an additional 1,283 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Energy Services of America in the second quarter valued at approximately $44,000. 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.