Aristides Capital LLC Makes New $579,000 Investment in Energy Services of America Co. $ESOA

Aristides Capital LLC acquired a new stake in Energy Services of America Co. (NASDAQ:ESOA) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 44,119 shares of the company’s stock, valued at approximately $579,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Needham Investment Management LLC boosted its holdings in Energy Services of America by 67.3% in the fourth quarter. Needham Investment Management LLC now owns 585,440 shares of the company’s stock worth $4,783,000 after acquiring an additional 235,440 shares in the last quarter. Man Group plc bought a new stake in shares of Energy Services of America during the second quarter valued at approximately $219,000. Boothbay Fund Management LLC bought a new stake in shares of Energy Services of America during the second quarter valued at approximately $110,000. Balyasny Asset Management L.P. raised its position 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 worth $3,709,000 after purchasing an additional 127,016 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Energy Services of America by 5,900.0% during the second quarter. Bank of America Corp DE now owns 5,760 shares of the company’s stock worth $57,000 after purchasing an additional 5,664 shares during the period. Institutional investors and hedge funds own 2.13% of the company’s stock.

Insider Buying and Selling at Energy Services of America

In other news, President Douglas V. Reynolds purchased 6,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were purchased at an average price of $16.26 per share, with a total value of $97,560.00. Following the transaction, the president directly owned 1,487,270 shares of the company’s stock, valued at approximately $24,183,010.20. This represents a 0.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marshall T. Reynolds sold 64,942 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $15.70, for a total value of $1,019,589.40. Following the transaction, the director owned 1,260,431 shares of the company’s stock, valued at $19,788,766.70. The trade was a 4.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 233,000 shares of company stock valued at $3,813,537. Company insiders own 44.68% of the company’s stock.

Energy Services of America Stock Up 2.5%

ESOA stock opened at $16.72 on Friday. The business has a 50 day moving average of $16.87 and a 200-day moving average of $14.38. Energy Services of America Co. has a 12-month low of $7.84 and a 12-month high of $19.94.

Energy Services of America (NASDAQ:ESOA) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.17. The company had revenue of $93.17 million during the quarter, compared to analysts’ expectations of $80.90 million.

Energy Services of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.04 dividend. 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 annualized dividend and a yield of 1.0%. Energy Services of America’s dividend payout ratio (DPR) is currently 87.43%.

Analyst Ratings Changes

A number of research analysts have weighed in on ESOA shares. Weiss Ratings raised shares of Energy Services of America from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Lake Street Capital restated a “buy” rating and issued a $25.00 target price on shares of Energy Services of America in a report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Services of America currently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

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.