Manatuck Hill Partners LLC acquired a new position in Energy Services of America Co. (NASDAQ:ESOA – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 50,000 shares of the company’s stock, valued at approximately $967,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its holdings in shares of 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 valued at $318,000 after acquiring an additional 920 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Energy Services of America by 80.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,871 shares of the company’s stock worth $38,000 after acquiring an additional 1,283 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Energy Services of America by 117.1% in the third quarter. Larson Financial Group LLC now owns 2,436 shares of the company’s stock valued at $25,000 after purchasing an additional 1,314 shares in the last quarter. Legal & General Group Plc purchased a new stake in Energy Services of America in the 2nd quarter worth about $26,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of 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 purchasing an additional 1,384 shares during the period. Institutional investors own 2.13% of the company’s stock.
Wall Street Analysts Forecast Growth
ESOA has been the subject of several recent research reports. Wall Street Zen cut Energy Services of America from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of Energy Services of America from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, August 12th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $25.00 target price on shares of Energy Services of America in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Energy Services of America has an average rating of “Buy” and an average price target of $25.00.
Energy Services of America Stock Performance
Shares of ESOA opened at $11.52 on Wednesday. Energy Services of America Co. has a 12 month low of $7.84 and a 12 month high of $19.94. The company has a 50-day moving average price of $15.66 and a two-hundred day moving average price of $15.20.
Energy Services of America (NASDAQ:ESOA – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $130.01 million during the quarter, compared to the consensus estimate of $112.65 million.
Energy Services of America Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, June 30th. This is an increase from Energy Services of America’s previous quarterly dividend of $0.03. Energy Services of America’s dividend payout ratio (DPR) is presently 87.43%.
Insiders Place Their Bets
In other Energy Services of America news, President Douglas V. Reynolds acquired 6,000 shares of Energy Services of America stock in a transaction on Thursday, June 18th. The shares were bought at an average price of $16.26 per share, with a total value of $97,560.00. Following the completion of the purchase, the president owned 1,487,270 shares in the company, valued at $24,183,010.20. This trade represents a 0.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Marshall T. Reynolds sold 64,942 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $15.70, for a total transaction of $1,019,589.40. Following the sale, the director directly owned 1,260,431 shares in the company, valued at $19,788,766.70. This trade represents a 4.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 143,243 shares of company stock worth $2,250,484. Insiders own 44.68% of the company’s stock.
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.
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