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

Energy Services of America Co. (NASDAQ:ESOA) President Douglas Reynolds acquired 6,000 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was acquired at an average cost of $16.26 per share, for a total transaction of $97,560.00. Following the completion of the acquisition, the president owned 1,487,270 shares of the company’s stock, valued at $24,183,010.20. This trade represents a 0.41% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Energy Services of America Trading Up 5.5%

Shares of NASDAQ:ESOA opened at $17.89 on Tuesday. Energy Services of America Co. has a 1 year low of $7.84 and a 1 year high of $19.94. The business’s 50 day moving average price is $16.37 and its 200-day moving average price is $12.94.

Energy Services of America (NASDAQ:ESOA) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.17. The company had revenue of $93.17 million during the quarter, compared to analysts’ expectations 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. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.04 per share. This is an increase from Energy Services of America’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, June 30th. This represents a $0.16 annualized dividend and a yield of 0.9%. Energy Services of America’s dividend payout ratio (DPR) is presently 65.57%.

Institutional Investors Weigh In On Energy Services of America

Several hedge funds and other institutional investors have recently bought and sold shares of ESOA. Bank of America Corp DE boosted its holdings in Energy Services of America by 582.8% in the 1st quarter. Bank of America Corp DE now owns 90,781 shares of the company’s stock valued at $1,192,000 after purchasing an additional 77,485 shares during the last quarter. Renaissance Technologies LLC increased 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 during the last quarter. Aristides Capital LLC purchased a new stake in shares of Energy Services of America during the 1st quarter valued at approximately $579,000. Sei Investments Co. purchased a new stake in shares of Energy Services of America during the 1st quarter valued at approximately $1,144,000. Finally, Walleye Capital LLC acquired a new position in Energy Services of America in the first quarter valued at approximately $922,000. 2.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ESOA has been the subject of several recent research reports. Lake Street Capital reissued a “buy” rating and issued a $25.00 price objective on shares of Energy Services of America in a research note on Tuesday, May 12th. 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. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.