Short Interest in Energy Services of America Co. (NASDAQ:ESOA) Declines By 13.6%

Energy Services of America Co. (NASDAQ:ESOA) was the target of 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 trading volume, of 403,062 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily trading volume, of 403,062 shares, the days-to-cover ratio is currently 2.2 days.

Energy Services of America Trading Down 1.7%

Shares of ESOA opened at $14.70 on Friday. The business’s 50-day moving average is $10.76 and its 200-day moving average is $10.14. Energy Services of America has a fifty-two week low of $7.64 and a fifty-two week high of $15.84.

Energy Services of America (NASDAQ:ESOA) last posted its quarterly earnings results on Monday, February 9th. The company reported $0.16 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 business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, December 31st. Energy Services of America’s payout ratio is currently 65.57%.

Insider Activity

In other Energy Services of America news, President Douglas V. Reynolds purchased 4,000 shares of the business’s stock in a transaction on Friday, December 19th. The stock was bought at an average cost of $8.07 per share, with a total value of $32,280.00. Following the acquisition, the president owned 1,474,961 shares of the company’s stock, valued at $11,902,935.27. The trade was a 0.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Marshall T. Reynolds sold 100,000 shares of Energy Services of America stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $8.37, for a total transaction of $837,000.00. Following the completion of the transaction, the director directly owned 1,425,373 shares in the company, valued at $11,930,372.01. This represents a 6.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have purchased 9,100 shares of company stock valued at $75,615 in the last ninety days. Company insiders own 44.68% of the company’s stock.

Institutional Trading of Energy Services of America

A number of institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in Energy Services of America by 15.9% in the first quarter. Goldman Sachs Group Inc. now owns 50,543 shares of the company’s stock valued at $478,000 after purchasing an additional 6,917 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Energy Services of America by 111.3% during the 2nd quarter. Geode Capital Management LLC now owns 267,626 shares of the company’s stock valued at $2,661,000 after buying an additional 140,986 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Energy Services of America in the 2nd quarter valued at approximately $30,000. Thompson Davis & CO. Inc. acquired a new position in Energy Services of America in the second quarter worth approximately $768,000. Finally, SG Americas Securities LLC bought a new position in Energy Services of America during the second quarter valued at approximately $284,000. Institutional investors and hedge funds own 2.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ESOA. Weiss Ratings restated a “hold (c-)” rating on shares of Energy Services of America in a report on Monday, December 29th. Wall Street Zen upgraded shares of 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. According to data from MarketBeat, Energy Services of America has an average rating of “Moderate Buy” and a consensus target price of $21.00.

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.