Energy Services of America (NASDAQ:ESOA) Trading 2.6% Higher – What’s Next?

Shares of Energy Services of America Co. (NASDAQ:ESOA) traded up 2.6% on Thursday . The company traded as high as $9.54 and last traded at $9.22. 110,825 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 122,523 shares. The stock had previously closed at $8.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Energy Services of America in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Energy Services of America from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Energy Services of America has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Energy Services of America Stock Performance

The company has a 50-day simple moving average of $8.58 and a two-hundred day simple moving average of $9.68.

Energy Services of America (NASDAQ:ESOA) last released its earnings results on Wednesday, December 10th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.13). The company had revenue of $130.07 million for the quarter, compared to analyst estimates of $109.20 million.

Energy Services of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.12 annualized dividend and a dividend yield of 1.3%. Energy Services of America’s payout ratio is presently 65.57%.

Insider Buying and Selling

In related news, Director Marshall T. Reynolds sold 100,000 shares of the firm’s 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 transaction, the director directly owned 1,425,373 shares of the company’s stock, valued at approximately $11,930,372.01. This trade represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Douglas V. Reynolds acquired 4,000 shares of the company’s stock in a transaction on Friday, December 19th. The stock was acquired at an average price of $8.07 per share, with a total value of $32,280.00. Following the purchase, the president directly owned 1,474,961 shares in the company, valued at approximately $11,902,935.27. This represents a 0.27% increase in their ownership of the stock. 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. Corporate insiders own 44.68% of the company’s stock.

Institutional Investors Weigh In On Energy Services of America

Hedge funds have recently modified their holdings of the company. Larson Financial Group LLC increased its stake in shares of Energy Services of America by 117.1% in the third quarter. Larson Financial Group LLC now owns 2,436 shares of the company’s stock valued at $25,000 after buying an additional 1,314 shares during the period. BNP Paribas Financial Markets increased its position in Energy Services of America by 137.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,390 shares of the company’s stock valued at $25,000 after acquiring an additional 1,384 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Energy Services of America in the second quarter worth $30,000. Raymond James Financial Inc. acquired a new stake in Energy Services of America in the second quarter valued at $44,000. Finally, JPMorgan Chase & Co. bought a new position in Energy Services of America during the 2nd quarter worth $56,000. Institutional investors and hedge funds 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.