Energy Services of America Co. (NASDAQ:ESOA) Sees Significant Drop in Short Interest

Energy Services of America Co. (NASDAQ:ESOA) saw a significant decrease in short interest in the month of February. As of February 13th, there was short interest totaling 877,736 shares, a decrease of 13.6% from the January 29th total of 1,015,710 shares. Based on an average daily volume of 403,062 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily volume of 403,062 shares, the days-to-cover ratio is currently 2.2 days.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ESOA. Weiss Ratings reissued a “hold (c-)” rating on shares of Energy Services of America in a report on Monday, December 29th. Wall Street Zen raised Energy Services of America from a “hold” rating to a “strong-buy” rating in a report on Saturday, February 14th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Insider Transactions at Energy Services of America

In related news, Director Marshall T. Reynolds sold 100,000 shares of Energy Services of America stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $8.37, for a total transaction of $837,000.00. Following the completion of the sale, the director owned 1,425,373 shares of the company’s stock, valued at approximately $11,930,372.01. The trade was a 6.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Douglas V. Reynolds purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was bought at an average price of $8.07 per share, for a total transaction of $32,280.00. Following the purchase, the president owned 1,474,961 shares in the company, valued at $11,902,935.27. The trade was a 0.27% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 9,100 shares of company stock valued at $75,615. 44.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. bought a new stake in shares of Energy Services of America during the 2nd quarter worth $666,000. EHP Funds Inc. bought a new stake in Energy Services of America during the 2nd quarter worth $1,112,000. SG Americas Securities LLC acquired a new position in Energy Services of America in the 2nd quarter worth about $284,000. Dimensional Fund Advisors LP raised its position in Energy Services of America by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 324,780 shares of the company’s stock valued at $3,362,000 after purchasing an additional 3,952 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Energy Services of America by 5.2% during the third quarter. First Trust Advisors LP now owns 38,034 shares of the company’s stock valued at $394,000 after purchasing an additional 1,874 shares in the last quarter. 2.13% of the stock is owned by institutional investors.

Energy Services of America Price Performance

Energy Services of America stock traded up $0.09 during mid-day trading on Wednesday, reaching $14.69. 43,262 shares of the company were exchanged, compared to its average volume of 274,527. The company has a fifty day simple moving average of $10.49 and a 200-day simple moving average of $10.07. Energy Services of America has a 12 month low of $7.64 and a 12 month high of $15.84.

Energy Services of America (NASDAQ:ESOA) last released its earnings results on Monday, February 9th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. The company had revenue of $114.11 million for the quarter, compared to analyst estimates of $97.70 million.

Energy Services of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a $0.03 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.12 annualized dividend and a dividend yield of 0.8%. Energy Services of America’s payout ratio is presently 65.57%.

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.