Raffles Associates LP purchased a new position in shares of Energy Services of America Co. (NASDAQ:ESOA – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 144,392 shares of the company’s stock, valued at approximately $2,793,000. Energy Services of America makes up 2.3% of Raffles Associates LP’s portfolio, making the stock its 15th biggest holding.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Trust Advisors LP grew its holdings in shares of Energy Services of America by 2.4% during the fourth quarter. First Trust Advisors LP now owns 38,954 shares of the company’s stock worth $318,000 after purchasing an additional 920 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Energy Services of America by 80.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,871 shares of the company’s stock valued at $38,000 after purchasing an additional 1,283 shares during the period. Larson Financial Group LLC grew its stake in 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 buying an additional 1,314 shares during the last quarter. Legal & General Group Plc acquired a new position in Energy Services of America during the second quarter worth approximately $26,000. Finally, BNP Paribas Financial Markets increased its position 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 during the period. 2.13% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, Director Marshall T. Reynolds sold 35,058 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $14.98, for a total transaction of $525,168.84. Following the transaction, the director owned 1,225,373 shares of the company’s stock, valued at $18,356,087.54. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Douglas V. Reynolds purchased 6,000 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was bought at an average price of $16.26 per share, with a total value of $97,560.00. Following the acquisition, the president directly owned 1,487,270 shares in the company, valued at approximately $24,183,010.20. This represents a 0.41% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 44.68% of the stock is currently owned by corporate insiders.
Energy Services of America Stock Up 1.7%
Energy Services of America (NASDAQ:ESOA – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $130.01 million for the quarter, compared to analysts’ expectations of $112.65 million.
Energy Services of America Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date 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 payout ratio is currently 87.43%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on ESOA shares. Weiss Ratings raised Energy Services of America from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, August 12th. Lake Street Capital reiterated a “buy” rating and issued a $25.00 price target on shares of Energy Services of America in a research report on Tuesday, May 12th. Finally, Wall Street Zen cut shares of Energy Services of America from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $25.00.
Read Our Latest Stock Analysis on Energy Services of America
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.
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