Short Interest in Energy Services of America Co. (NASDAQ:ESOA) Drops By 12.4%

Energy Services of America Co. (NASDAQ:ESOA) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 924,529 shares, a decrease of 12.4% from the December 31st total of 1,055,022 shares. Based on an average daily volume of 128,534 shares, the days-to-cover ratio is currently 7.2 days. Based on an average daily volume of 128,534 shares, the days-to-cover ratio is currently 7.2 days.

Analyst Ratings Changes

Several research firms recently commented on ESOA. Wall Street Zen lowered shares of Energy Services of America from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Energy Services of America in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Energy Services of America has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Insider Transactions at Energy Services of America

In other news, President Douglas V. Reynolds acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were bought at an average cost of $8.07 per share, with a total value of $32,280.00. Following the acquisition, the president owned 1,474,961 shares in the company, valued at approximately $11,902,935.27. This represents a 0.27% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marshall T. Reynolds sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $8.37, for a total value of $837,000.00. Following the completion of the sale, the director owned 1,425,373 shares of the company’s stock, valued at $11,930,372.01. The trade was a 6.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have purchased 9,100 shares of company stock worth $75,615. 44.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Energy Services of America

Several institutional investors and hedge funds have recently modified their holdings of ESOA. Goldman Sachs Group Inc. boosted its stake in shares of Energy Services of America by 15.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 50,543 shares of the company’s stock valued at $478,000 after purchasing an additional 6,917 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Energy Services of America by 111.3% in the second quarter. Geode Capital Management LLC now owns 267,626 shares of the company’s stock worth $2,661,000 after buying an additional 140,986 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in Energy Services of America during the 2nd quarter valued at approximately $30,000. Thompson Davis & CO. Inc. bought a new stake in Energy Services of America during the 2nd quarter valued at approximately $768,000. Finally, SG Americas Securities LLC purchased a new position in shares of Energy Services of America during the 2nd quarter worth approximately $284,000. 2.13% of the stock is owned by hedge funds and other institutional investors.

Energy Services of America Stock Performance

Shares of NASDAQ:ESOA opened at $9.41 on Tuesday. The stock’s 50-day moving average is $8.57 and its 200 day moving average is $9.63. Energy Services of America has a 1 year low of $7.64 and a 1 year high of $12.14.

Energy Services of America (NASDAQ:ESOA) last issued its quarterly earnings data on Wednesday, December 10th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.13). The firm had revenue of $130.07 million during the quarter, compared to analysts’ expectations of $109.20 million.

Energy Services of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, December 31st. Energy Services of America’s payout ratio is presently 65.57%.

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.