Walleye Capital LLC Takes $2.09 Million Position in Energy Services of America Co. $ESOA

Walleye Capital LLC acquired a new stake in Energy Services of America Co. (NASDAQ:ESOA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 108,099 shares of the company’s stock, valued at approximately $2,091,000.

Several other hedge funds have also added to or reduced their stakes in ESOA. First Trust Advisors LP grew its stake in Energy Services of America by 2.4% in the fourth quarter. First Trust Advisors LP now owns 38,954 shares of the company’s stock valued at $318,000 after acquiring an additional 920 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Energy Services of America by 80.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,871 shares of the company’s stock worth $38,000 after purchasing an additional 1,283 shares during the period. Larson Financial Group LLC raised its position in shares of Energy Services of America by 117.1% during the third quarter. Larson Financial Group LLC now owns 2,436 shares of the company’s stock worth $25,000 after purchasing an additional 1,314 shares during the period. 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 valued at $25,000 after purchasing an additional 1,384 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Energy Services of America by 6.6% during the 4th quarter. Barclays PLC now owns 24,042 shares of the company’s stock valued at $196,000 after purchasing an additional 1,499 shares in the last quarter. Institutional investors and hedge funds own 2.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ESOA. Lake Street Capital reaffirmed a “buy” rating and issued a $25.00 price target on shares of Energy Services of America in a research note on Tuesday, May 12th. Wall Street Zen lowered Energy Services of America from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings raised Energy Services of America from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $25.00.

Energy Services of America Price Performance

Shares of NASDAQ ESOA opened at $12.83 on Friday. The stock has a 50 day moving average price of $16.23 and a 200 day moving average price of $15.01. Energy Services of America Co. has a 52 week low of $7.84 and a 52 week high of $19.94.

Energy Services of America (NASDAQ:ESOA) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $130.01 million for the quarter, compared to analyst estimates of $112.65 million.

Energy Services of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.04 per share. The ex-dividend date was Tuesday, June 30th. This is a positive change from Energy Services of America’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. Energy Services of America’s dividend payout ratio is presently 87.43%.

Insiders Place Their Bets

In other news, Director Mark Prince sold 33,000 shares of Energy Services of America stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $17.80, for a total value of $587,400.00. Following the completion of the transaction, the director owned 67,071 shares of the company’s stock, valued at $1,193,863.80. This trade represents a 32.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Marshall T. Reynolds sold 35,058 shares of the company’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 completion of the sale, the director directly owned 1,225,373 shares in the company, valued at approximately $18,356,087.54. The trade was a 2.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 233,000 shares of company stock valued at $3,813,537. 44.68% of the stock is currently owned by corporate insiders.

Energy Services of America 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.