Energy Services of America (NASDAQ:ESOA) Director Marshall Reynolds Sells 43,243 Shares of Stock

Energy Services of America Co. (NASDAQ:ESOA) Director Marshall Reynolds sold 43,243 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $16.32, for a total transaction of $705,725.76. Following the completion of the transaction, the director owned 1,325,373 shares of the company’s stock, valued at approximately $21,630,087.36. This represents a 3.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Energy Services of America Price Performance

Shares of ESOA opened at $16.42 on Friday. Energy Services of America Co. has a 1 year low of $7.84 and a 1 year high of $19.94. The stock has a 50 day simple moving average of $15.53 and a 200-day simple moving average of $12.15.

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 analysts’ consensus estimates of ($0.16) by $0.17. The company had revenue of $93.17 million during the quarter, compared to analyst estimates of $80.90 million.

Energy Services of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.7%. Energy Services of America’s dividend payout ratio is presently 65.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Walleye Capital LLC bought a new position in shares of Energy Services of America in the 1st quarter worth $922,000. Bank of New York Mellon Corp boosted its position in shares of Energy Services of America by 18.6% in the 1st quarter. Bank of New York Mellon Corp now owns 156,152 shares of the company’s stock worth $2,050,000 after purchasing an additional 24,447 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Energy Services of America in the 1st quarter worth $361,000. Calamos Advisors LLC bought a new position in shares of Energy Services of America in the 1st quarter worth $139,000. Finally, Ritholtz Wealth Management bought a new position in shares of Energy Services of America in the 1st quarter worth $220,000. 2.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ESOA. Lake Street Capital reissued a “buy” rating and issued a $25.00 target price on shares of Energy Services of America in a report on Tuesday, May 12th. Weiss Ratings raised Energy Services of America from a “hold (c-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen raised Energy Services of America from a “hold” rating to a “strong-buy” rating in a report on Saturday, February 14th. 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 a consensus rating of “Moderate Buy” and an average target price 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.