Marshall Reynolds Sells 43,243 Shares of Energy Services of America (NASDAQ:ESOA) Stock

Energy Services of America Co. (NASDAQ:ESOA) Director Marshall Reynolds sold 43,243 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $16.32, for a total value of $705,725.76. Following the sale, the director owned 1,325,373 shares of the company’s stock, valued at approximately $21,630,087.36. This represents a 3.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Energy Services of America Trading Down 9.1%

Shares of ESOA 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 stock has a fifty day moving average price of $15.57 and a 200-day moving average price of $12.17.

Energy Services of America (NASDAQ:ESOA) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.17. The business had revenue of $93.17 million for the quarter, compared to analysts’ expectations of $80.90 million.

Energy Services of America Dividend Announcement

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

Institutional Investors Weigh In On Energy Services of America

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Energy Services of America by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 613,541 shares of the company’s stock valued at $6,350,000 after acquiring an additional 11,798 shares during the period. Needham Investment Management LLC grew 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 valued at $4,783,000 after acquiring an additional 235,440 shares during the period. Millennium Management LLC grew its position in shares of Energy Services of America by 90.4% during the 3rd 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 during the period. Balyasny Asset Management L.P. grew its position in shares of Energy Services of America by 51.6% during the 2nd 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 period. Finally, Dimensional Fund Advisors LP grew its position in shares of Energy Services of America by 11.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 363,355 shares of the company’s stock valued at $2,968,000 after acquiring an additional 38,575 shares during the period. 2.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ESOA shares. 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. Lake Street Capital reissued a “buy” rating and issued a $25.00 target price on shares of Energy Services of America in a research report on Tuesday, May 12th. Finally, Wall Street Zen raised Energy Services of America from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 14th. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.