Energy Services of America (NASDAQ:ESOA) Raised to “Strong-Buy” at Wall Street Zen

Energy Services of America (NASDAQ:ESOA) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a report issued on Saturday.

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Energy Services of America in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Energy Services of America has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Energy Services of America Stock Performance

ESOA stock opened at $14.21 on Friday. Energy Services of America has a twelve month low of $7.64 and a twelve month high of $14.84. The stock’s 50 day moving average is $9.01 and its 200-day moving average is $9.70.

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

Insider Activity at Energy Services of America

In related news, President Douglas V. Reynolds bought 4,000 shares of the stock in a transaction that occurred on Friday, December 19th. The shares were acquired at an average cost of $8.07 per share, with a total value of $32,280.00. Following the completion of the purchase, the president directly owned 1,474,961 shares of the company’s stock, valued at $11,902,935.27. This trade represents a 0.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Marshall T. Reynolds sold 100,000 shares of the company’s stock in a transaction 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 owned 1,425,373 shares of the company’s stock, valued at $11,930,372.01. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders purchased 9,100 shares of company stock worth $75,615. 44.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Energy Services of America

Hedge funds and other institutional investors have recently modified their holdings of the company. Essex Investment Management Co. LLC increased its position in shares of Energy Services of America by 48.0% during the 4th quarter. Essex Investment Management Co. LLC now owns 26,088 shares of the company’s stock valued at $213,000 after purchasing an additional 8,462 shares during the last quarter. First Trust Advisors LP boosted 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 worth $318,000 after buying an additional 920 shares in the last quarter. State Street Corp grew its position in Energy Services of America by 24.0% during the fourth quarter. State Street Corp now owns 198,966 shares of the company’s stock valued at $1,631,000 after acquiring an additional 38,557 shares during the last quarter. Wells Fargo & Company MN grew its position in Energy Services of America by 32.7% during the fourth quarter. Wells Fargo & Company MN now owns 16,926 shares of the company’s stock valued at $138,000 after acquiring an additional 4,167 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised 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 worth $2,968,000 after acquiring an additional 38,575 shares in the last quarter. 2.13% of the stock is currently owned by hedge funds and other institutional investors.

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.