Renaissance Technologies LLC Has $2.86 Million Position in Energy Services of America Co. $ESOA

Renaissance Technologies LLC raised its stake in Energy Services of America Co. (NASDAQ:ESOA) by 221.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 217,500 shares of the company’s stock after acquiring an additional 149,800 shares during the period. Renaissance Technologies LLC’s holdings in Energy Services of America were worth $2,856,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Aristides Capital LLC bought a new position in shares of Energy Services of America during the first quarter worth about $579,000. Sei Investments Co. bought a new stake in Energy Services of America in the first quarter valued at approximately $1,144,000. Walleye Capital LLC bought a new stake in Energy Services of America in the first quarter valued at approximately $922,000. 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 valued at $38,000 after purchasing an additional 1,283 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Energy Services of America by 18.6% during the 1st quarter. Bank of New York Mellon Corp now owns 156,152 shares of the company’s stock valued at $2,050,000 after purchasing an additional 24,447 shares during the period. Institutional investors and hedge funds own 2.13% of the company’s stock.

Energy Services of America Stock Performance

NASDAQ:ESOA opened at $15.65 on Monday. Energy Services of America Co. has a twelve month low of $7.84 and a twelve month high of $19.94. The company has a fifty day moving average of $16.42 and a 200-day moving average of $14.90.

Energy Services of America (NASDAQ:ESOA) last issued its earnings results on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.17. The company had revenue of $93.17 million for the quarter, compared to the consensus estimate of $80.90 million.

Energy Services of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.04 per share. This is an increase from Energy Services of America’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, June 30th. Energy Services of America’s dividend payout ratio (DPR) is currently 87.43%.

Insider Activity

In related news, Director Marshall T. Reynolds sold 64,942 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was 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 of the company’s stock, valued at $19,788,766.70. The trade was a 4.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Douglas V. Reynolds bought 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was purchased at an average cost of $16.26 per share, with a total value of $97,560.00. Following the completion of the transaction, the president directly owned 1,487,270 shares in the company, valued at $24,183,010.20. This represents a 0.41% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 233,000 shares of company stock worth $3,813,537. Company insiders own 44.68% of the company’s stock.

Wall Street Analysts Forecast Growth

ESOA has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of 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 reiterated a “buy” rating and set a $25.00 price objective on shares of Energy Services of America in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Energy Services of America has an average rating of “Moderate Buy” and a consensus 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.