Manatuck Hill Partners LLC Purchases New Stake in Energy Services of America Co. $ESOA

Manatuck Hill Partners LLC purchased a new position in shares of Energy Services of America Co. (NASDAQ:ESOA) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 50,000 shares of the company’s stock, valued at approximately $967,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ESOA. First Trust Advisors LP increased 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 worth $318,000 after acquiring an additional 920 shares during the period. PNC Financial Services Group Inc. increased its position in Energy Services of America by 80.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,871 shares of the company’s stock worth $38,000 after purchasing an additional 1,283 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Energy Services of America by 117.1% during the third 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 in the last quarter. Legal & General Group Plc acquired a new position in Energy Services of America in the 2nd quarter worth about $26,000. Finally, BNP Paribas Financial Markets raised its holdings in Energy Services of America by 137.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,390 shares of the company’s stock valued at $25,000 after buying an additional 1,384 shares during the last quarter. Institutional investors and hedge funds own 2.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ESOA shares. Wall Street Zen downgraded Energy Services of America from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of Energy Services of America from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, August 12th. Finally, Lake Street Capital restated a “buy” rating and issued a $25.00 target price on shares of Energy Services of America in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Energy Services of America has a consensus rating of “Buy” and an average price target of $25.00.

Insider Buying and Selling at Energy Services of America

In other Energy Services of America news, Director Marshall T. Reynolds sold 64,942 shares of the firm’s 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 completion of the sale, the director directly owned 1,260,431 shares in the company, valued at approximately $19,788,766.70. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Douglas V. Reynolds acquired 6,000 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were bought at an average cost of $16.26 per share, for a total transaction of $97,560.00. Following the transaction, 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. Over the last three months, insiders have sold 143,243 shares of company stock worth $2,250,484. 44.68% of the stock is owned by insiders.

Energy Services of America Trading Down 0.1%

Shares of ESOA stock opened at $11.52 on Wednesday. Energy Services of America Co. has a fifty-two week low of $7.84 and a fifty-two week high of $19.94. The stock has a 50 day simple moving average of $15.66 and a two-hundred day simple moving average of $15.20.

Energy Services of America (NASDAQ:ESOA) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $130.01 million for the quarter, compared to the consensus estimate of $112.65 million.

Energy Services of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.04 per share. This is a boost from Energy Services of America’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Energy Services of America’s payout ratio is currently 87.43%.

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.