Raffles Associates LP Invests $2.79 Million in Energy Services of America Co. $ESOA

Raffles Associates LP purchased a new position in Energy Services of America Co. (NASDAQ:ESOA) in the second quarter, Holdings Channel reports. The fund purchased 144,392 shares of the company’s stock, valued at approximately $2,793,000. Energy Services of America accounts for approximately 2.3% of Raffles Associates LP’s investment portfolio, making the stock its 15th biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in shares of Energy Services of America by 15.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 50,543 shares of the company’s stock valued at $478,000 after acquiring an additional 6,917 shares during the last quarter. Geode Capital Management LLC lifted its stake in Energy Services of America by 111.3% during the second quarter. Geode Capital Management LLC now owns 267,626 shares of the company’s stock worth $2,661,000 after purchasing an additional 140,986 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Energy Services of America during the second quarter worth $56,000. XTX Topco Ltd acquired a new position in Energy Services of America in the second quarter worth $161,000. Finally, Russell Investments Group Ltd. acquired a new position in Energy Services of America in the second quarter worth $156,000. 2.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Lake Street Capital restated 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. Wall Street Zen lowered shares of Energy Services of America from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of Energy Services of America from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Energy Services of America has an average rating of “Buy” and an average target price of $25.00.

Energy Services of America Stock Performance

NASDAQ:ESOA opened at $11.68 on Friday. The business has a 50 day simple moving average of $15.46 and a 200 day simple moving average of $15.23. Energy Services of America Co. has a 12-month low of $7.84 and a 12-month high of $19.94.

Energy Services of America (NASDAQ:ESOA) last issued its earnings results on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $130.01 million during the quarter, compared to analyst estimates 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. Investors of record on Tuesday, June 30th were issued a $0.04 dividend. This is a boost from Energy Services of America’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.4%. Energy Services of America’s dividend payout ratio is 87.43%.

Insider Transactions at Energy Services of America

In related news, Director Marshall T. Reynolds sold 35,058 shares of Energy Services of America stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $14.98, for a total value of $525,168.84. Following the sale, the director directly owned 1,225,373 shares in the company, valued at $18,356,087.54. This trade represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Douglas V. Reynolds acquired 6,000 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was purchased at an average price of $16.26 per share, for a total transaction of $97,560.00. Following the completion of the transaction, the president owned 1,487,270 shares in the company, valued at $24,183,010.20. The trade was 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 owned by company insiders.

Energy Services of America Company 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.