Energy Services of America (NASDAQ:ESOA) Shares Down 2.5% – What’s Next?

Shares of Energy Services of America Co. (NASDAQ:ESOA) fell 2.5% during mid-day trading on Tuesday . The company traded as low as $14.51 and last traded at $14.76. 62,485 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 212,126 shares. The stock had previously closed at $15.14.

Analyst Ratings Changes

A number of research firms recently issued reports on ESOA. Weiss Ratings reissued a “hold (c-)” rating on shares of Energy Services of America in a research note on Friday, March 27th. Wall Street Zen raised shares of Energy Services of America from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 14th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Energy Services of America Stock Down 2.5%

The stock’s 50 day moving average is $14.04 and its 200-day moving average is $11.00.

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

Energy Services of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.8%. Energy Services of America’s dividend payout ratio (DPR) is currently 65.57%.

Insider Buying and Selling at Energy Services of America

In other Energy Services of America news, President Douglas V. Reynolds bought 4,809 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was acquired at an average price of $13.26 per share, with a total value of $63,767.34. Following the completion of the purchase, the president owned 1,481,270 shares of the company’s stock, valued at approximately $19,641,640.20. This trade represents a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 44.68% of the company’s stock.

Hedge Funds Weigh In On Energy Services of America

A number of institutional investors and hedge funds have recently made changes to their positions in ESOA. Needham Investment Management LLC increased its stake in shares of Energy Services of America by 67.3% during the fourth quarter. Needham Investment Management LLC now owns 585,440 shares of the company’s stock valued at $4,783,000 after purchasing an additional 235,440 shares in the last quarter. Millennium Management LLC increased its stake in shares of Energy Services of America by 90.4% during the third quarter. Millennium Management LLC now owns 382,589 shares of the company’s stock valued at $3,960,000 after purchasing an additional 181,631 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Energy Services of America by 111.3% during the second quarter. Geode Capital Management LLC now owns 267,626 shares of the company’s stock valued at $2,661,000 after purchasing an additional 140,986 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Energy Services of America by 51.6% during the second quarter. Balyasny Asset Management L.P. now owns 373,165 shares of the company’s stock valued at $3,709,000 after purchasing an additional 127,016 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Energy Services of America by 11.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 363,355 shares of the company’s stock valued at $2,968,000 after purchasing an additional 38,575 shares in the last quarter. Institutional investors own 2.13% of the company’s stock.

About Energy Services of America

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.