Insider Buying: Energy Services of America (NASDAQ:ESOA) President Acquires 6,000 Shares

Energy Services of America Co. (NASDAQ:ESOA) President Douglas Reynolds bought 6,000 shares of the stock in a transaction on Thursday, June 18th. The shares were acquired at an average cost of $16.26 per share, with a total value of $97,560.00. Following the purchase, the president owned 1,487,270 shares of the company’s stock, valued at approximately $24,183,010.20. This represents a 0.41% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Energy Services of America Stock Performance

ESOA opened at $16.95 on Monday. The company’s 50 day moving average is $16.29 and its 200-day moving average is $12.87. Energy Services of America Co. has a 1-year low of $7.84 and a 1-year high of $19.94.

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

Energy Services of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.04 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.16 annualized dividend and a yield of 0.9%. This is a boost from Energy Services of America’s previous quarterly dividend of $0.03. Energy Services of America’s dividend payout ratio is 65.57%.

Institutional Trading of Energy Services of America

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings 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 worth $478,000 after acquiring an additional 6,917 shares during the period. Geode Capital Management LLC raised its position in shares of Energy Services of America by 111.3% in the 2nd quarter. Geode Capital Management LLC now owns 267,626 shares of the company’s stock worth $2,661,000 after acquiring an additional 140,986 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Energy Services of America in the 2nd quarter valued at about $56,000. XTX Topco Ltd acquired a new position in shares of Energy Services of America in the 2nd quarter valued at about $161,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Energy Services of America during the 2nd quarter valued at about $156,000. Institutional investors own 2.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings upgraded Energy Services of America from a “hold (c-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Lake Street Capital restated a “buy” rating and set a $25.00 price target on shares of Energy Services of America in a 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.00.

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.