Globeflex Capital L P Buys Shares of 54,775 Energy Services of America Co. $ESOA

Globeflex Capital L P purchased a new stake in shares of Energy Services of America Co. (NASDAQ:ESOA) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 54,775 shares of the company’s stock, valued at approximately $1,059,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ESOA. Goldman Sachs Group Inc. boosted its stake in Energy Services of America by 15.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 50,543 shares of the company’s stock valued at $478,000 after purchasing an additional 6,917 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Energy Services of America by 111.3% in 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. purchased a new position in shares of Energy Services of America in the second quarter worth $56,000. XTX Topco Ltd bought a new position in shares of Energy Services of America during the second quarter valued at $161,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Energy Services of America during the second quarter valued at $156,000. 2.13% of the stock is owned by institutional investors.

Insider Transactions at Energy Services of America

In other news, Director Marshall T. Reynolds sold 64,942 shares of the company’s stock in a transaction on 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 in the company, valued at $19,788,766.70. This represents a 4.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 bought at an average cost of $16.26 per share, for a total transaction of $97,560.00. Following the completion of the acquisition, the president owned 1,487,270 shares in the company, valued at $24,183,010.20. This trade represents a 0.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 233,000 shares of company stock worth $3,813,537 in the last 90 days. 44.68% of the stock is currently owned by insiders.

Energy Services of America Price Performance

Shares of NASDAQ:ESOA opened at $11.53 on Tuesday. The stock’s 50-day simple moving average is $15.76 and its two-hundred day simple moving average is $15.18. Energy Services of America Co. has a 52-week low of $7.84 and a 52-week high of $19.94.

Energy Services of America (NASDAQ:ESOA) last released its quarterly 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 business had revenue of $130.01 million for the quarter, compared to analysts’ expectations of $112.65 million.

Energy Services of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.04 dividend. The ex-dividend date was Tuesday, June 30th. 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%. Energy Services of America’s payout ratio is 87.43%.

Analysts Set New Price Targets

ESOA has been the subject of a number of research analyst reports. 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. Weiss Ratings upgraded shares of Energy Services of America from a “hold (c)” rating to a “buy (b-)” rating in a research 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 investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “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.