Energy Services of America (NASDAQ:ESOA) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Energy Services of America (NASDAQ:ESOA) from a strong-buy rating to a buy rating in a report published on Saturday morning.

ESOA has been the topic of several other research reports. 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 reaffirmed a “buy” rating and set a $25.00 price target on shares of Energy Services of America in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $25.00.

Energy Services of America Stock Up 1.6%

ESOA stock opened at $13.04 on Friday. The company has a 50-day simple moving average of $16.19 and a 200 day simple moving average of $15.08. Energy Services of America has a fifty-two week low of $7.84 and a fifty-two week high of $19.94.

Energy Services of America (NASDAQ:ESOA) last released its earnings results on Monday, August 10th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $130.01 million for the quarter, compared to analyst estimates of $112.65 million.

Energy Services of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.04 dividend. This is a boost from Energy Services of America’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, June 30th. This represents a $0.16 annualized dividend and a dividend yield of 1.2%. Energy Services of America’s payout ratio is currently 87.43%.

Insiders Place Their Bets

In other news, Director Mark Prince sold 33,000 shares of the stock in a transaction 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 completion of the sale, the director owned 67,071 shares in the company, valued at $1,193,863.80. This represents a 32.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marshall T. Reynolds sold 64,942 shares of Energy Services of America stock in a transaction on Friday, May 29th. The shares were sold at an average price of $15.70, for a total value of $1,019,589.40. Following the transaction, the director owned 1,260,431 shares in the company, valued at $19,788,766.70. This represents a 4.90% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 233,000 shares of company stock worth $3,813,537. Corporate 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 business. First Trust Advisors LP grew its stake in Energy Services of America by 2.4% during the 4th 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 holdings 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 lifted its position 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 worth $25,000 after purchasing an additional 1,314 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Energy Services of America in the second quarter worth approximately $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. 2.13% of the stock is owned by hedge funds and other institutional investors.

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.