Energy Services of America Co. (NASDAQ:ESOA) Sees Significant Decrease in Short Interest

Energy Services of America Co. (NASDAQ:ESOA) saw a large drop in short interest in February. As of February 27th, there was short interest totaling 731,220 shares, a drop of 16.7% from the February 12th total of 877,736 shares. Based on an average daily volume of 429,429 shares, the short-interest ratio is presently 1.7 days. Based on an average daily volume of 429,429 shares, the short-interest ratio is presently 1.7 days.

Energy Services of America Price Performance

Shares of NASDAQ ESOA traded up $0.18 during midday trading on Tuesday, hitting $13.23. 65,765 shares of the company’s stock were exchanged, compared to its average volume of 256,921. The firm’s fifty day simple moving average is $11.50 and its 200-day simple moving average is $10.31. Energy Services of America has a twelve month low of $7.64 and a twelve month high of $15.84.

Energy Services of America (NASDAQ:ESOA) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The business had revenue of $114.11 million during the quarter, compared to analyst estimates of $97.70 million.

Energy Services of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.03 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.12 annualized dividend and a dividend yield of 0.9%. Energy Services of America’s dividend payout ratio is presently 65.57%.

Analysts Set New Price Targets

A number of equities research analysts have commented on ESOA shares. Wall Street Zen raised shares of Energy Services of America from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Energy Services of America in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Insider Transactions at Energy Services of America

In other news, President Douglas V. Reynolds bought 4,000 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were purchased at an average cost of $8.07 per share, for a total transaction of $32,280.00. Following the completion of the purchase, the president owned 1,474,961 shares of the company’s stock, valued at approximately $11,902,935.27. This represents a 0.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marshall T. Reynolds sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $8.37, for a total transaction of $837,000.00. Following the completion of the sale, the director directly owned 1,425,373 shares in the company, valued at approximately $11,930,372.01. This trade represents a 6.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders acquired a total of 9,100 shares of company stock worth $75,615 in the last ninety days. 44.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Energy Services of America

Several hedge funds have recently made changes to their positions in ESOA. Larson Financial Group LLC lifted its holdings in shares of Energy Services of America by 117.1% in the 3rd quarter. Larson Financial Group LLC now owns 2,436 shares of the company’s stock valued at $25,000 after purchasing an additional 1,314 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Energy Services of America by 137.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,390 shares of the company’s stock worth $25,000 after buying an additional 1,384 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in Energy Services of America during the 2nd quarter worth approximately $30,000. Raymond James Financial Inc. acquired a new position in Energy Services of America during the second quarter worth approximately $44,000. Finally, JPMorgan Chase & Co. acquired a new position in Energy Services of America during the second quarter worth approximately $56,000. Hedge funds and other institutional investors own 2.13% of the company’s stock.

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.