Energy Services of America (NASDAQ:ESOA) Stock Price Down 2.6% – Time to Sell?

Energy Services of America Co. (NASDAQ:ESOA)’s stock price was down 2.6% during trading on Monday . The company traded as low as $16.37 and last traded at $16.41. Approximately 98,533 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 184,577 shares. The stock had previously closed at $16.84.

Analyst Upgrades and Downgrades

ESOA has been the topic of a number of research analyst reports. Lake Street Capital reissued a “buy” rating and set a $25.00 price objective on shares of Energy Services of America in a research report on Tuesday, May 12th. Weiss Ratings raised Energy Services of America from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. One 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.00.

Energy Services of America Stock Down 2.6%

The stock has a fifty day moving average price of $17.08 and a two-hundred day moving average price of $13.92.

Energy Services of America (NASDAQ:ESOA) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.17. The company had revenue of $93.17 million for the quarter, compared to the consensus estimate 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 issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.16 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Energy Services of America’s previous quarterly dividend of $0.03. Energy Services of America’s payout ratio is presently 87.43%.

Insider Transactions at Energy Services of America

In related news, Director Marshall T. Reynolds sold 35,058 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $14.98, for a total transaction of $525,168.84. Following the transaction, the director directly owned 1,225,373 shares of the company’s stock, valued at $18,356,087.54. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Douglas V. Reynolds purchased 6,000 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were purchased at an average price 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. The trade was a 0.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 233,000 shares of company stock worth $3,813,537 in the last quarter. 44.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Energy Services of America

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESOA. Needham Investment Management LLC lifted its position in shares of Energy Services of America by 67.3% during the 4th quarter. Needham Investment Management LLC now owns 585,440 shares of the company’s stock worth $4,783,000 after buying an additional 235,440 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Energy Services of America by 90.4% in the third quarter. Millennium Management LLC now owns 382,589 shares of the company’s stock valued at $3,960,000 after acquiring an additional 181,631 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Energy Services of America by 221.3% in the first quarter. Renaissance Technologies LLC now owns 217,500 shares of the company’s stock valued at $2,856,000 after acquiring an additional 149,800 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 valued at $2,661,000 after acquiring an additional 140,986 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in shares of Energy Services of America by 51.6% during the second quarter. Balyasny Asset Management L.P. now owns 373,165 shares of the company’s stock valued at $3,709,000 after acquiring an additional 127,016 shares during the last quarter. Hedge funds and other institutional investors own 2.13% of the company’s stock.

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.