Short Interest in Energy Services of America Co. (NASDAQ:ESOA) Declines By 13.3%

Energy Services of America Co. (NASDAQ:ESOA) was the target of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 633,979 shares, a drop of 13.3% from the February 26th total of 731,220 shares. Based on an average daily trading volume, of 194,514 shares, the short-interest ratio is currently 3.3 days.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Energy Services of America in a research report on Friday. Wall Street Zen upgraded Energy Services of America from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 14th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Energy Services of America Price Performance

Shares of Energy Services of America stock opened at $13.13 on Wednesday. The firm has a fifty day moving average price of $12.62 and a 200 day moving average price of $10.58. Energy Services of America has a 1 year low of $7.64 and a 1 year high of $15.84.

Energy Services of America (NASDAQ:ESOA) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.16 earnings per share 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 announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Energy Services of America’s dividend payout ratio (DPR) is 65.57%.

Insider Activity at Energy Services of America

In related news, President Douglas V. Reynolds acquired 4,809 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were purchased at an average cost of $13.26 per share, with a total value of $63,767.34. Following the completion of the acquisition, the president directly owned 1,481,270 shares of the company’s stock, valued at $19,641,640.20. This represents a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 44.68% of the company’s stock.

Institutional Investors Weigh In On Energy Services of America

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