Energy Services of America (NASDAQ:ESOA) Issues Quarterly Earnings Results

Energy Services of America (NASDAQ:ESOA) posted its earnings results on Monday. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01, FiscalAI reports. The business had revenue of $130.01 million for the quarter, compared to the consensus estimate of $112.65 million.

Energy Services of America Stock Performance

Shares of Energy Services of America stock traded down $0.19 during trading on Monday, reaching $15.46. The stock had a trading volume of 79,414 shares, compared to its average volume of 177,200. The stock has a fifty day moving average price of $16.42 and a two-hundred day moving average price of $14.90. Energy Services of America has a 52 week low of $7.84 and a 52 week high of $19.94.

Energy Services of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.16 annualized dividend and a dividend yield of 1.0%. This is a positive change from Energy Services of America’s previous quarterly dividend of $0.03. Energy Services of America’s dividend payout ratio (DPR) is 87.43%.

Insider Buying and Selling

In related news, Director Mark Prince sold 33,000 shares of Energy Services of America stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $17.80, for a total value of $587,400.00. Following the sale, the director owned 67,071 shares of the company’s stock, valued at approximately $1,193,863.80. This trade represents a 32.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marshall T. Reynolds sold 64,942 shares of Energy Services of America 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 completion of the sale, the director 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 233,000 shares of company stock worth $3,813,537. 44.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Energy Services of America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp boosted its stake in shares of Energy Services of America by 41.2% during the 4th quarter. Mackenzie Financial Corp now owns 20,856 shares of the company’s stock worth $167,000 after buying an additional 6,086 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Energy Services of America in the fourth quarter valued at about $159,000. Wellington Management Group LLP increased its position in shares of Energy Services of America by 31.8% in the fourth quarter. Wellington Management Group LLP now owns 19,162 shares of the company’s stock valued at $157,000 after acquiring an additional 4,627 shares during the last quarter. Man Group plc raised its holdings in Energy Services of America by 15.7% during the fourth quarter. Man Group plc now owns 16,770 shares of the company’s stock worth $137,000 after acquiring an additional 2,278 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in Energy Services of America during the fourth quarter valued at approximately $86,000. 2.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ESOA shares. Weiss Ratings lowered Energy Services of America from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, July 29th. Lake Street Capital restated a “buy” rating and set a $25.00 target price on shares of Energy Services of America in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Energy Services of America has a consensus rating of “Moderate Buy” and an average price target of $25.00.

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.