Energy Services of America Co. (NASDAQ:ESOA) Raises Dividend to $0.04 Per Share

Energy Services of America Co. (NASDAQ:ESOA) announced a quarterly dividend on Wednesday, June 17th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.04 per share on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 33.3% increase from Energy Services of America’s previous quarterly dividend of $0.03.

Energy Services of America Stock Performance

Shares of Energy Services of America stock remained flat at $16.95 during trading on Friday. 211,909 shares of the stock traded hands, compared to its average volume of 188,258. The business’s 50-day simple moving average is $16.23 and its 200-day simple moving average is $12.81. Energy Services of America has a 1-year low of $7.84 and a 1-year high of $19.94.

Energy Services of America (NASDAQ:ESOA) last posted its earnings results on Monday, May 11th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.17. The business had revenue of $93.17 million during the quarter, compared to analysts’ expectations of $80.90 million.

Insiders Place Their Bets

In other Energy Services of America news, Director Mark Prince sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $17.80, for a total transaction of $587,400.00. Following the transaction, the director owned 67,071 shares of the company’s stock, valued at approximately $1,193,863.80. This trade represents a 32.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Marshall T. Reynolds sold 35,058 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $14.98, for a total value of $525,168.84. Following the transaction, the director directly owned 1,225,373 shares in the company, valued at approximately $18,356,087.54. The trade was a 2.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 233,000 shares of company stock valued at $3,813,537. 44.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Energy Services of America

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in shares of Energy Services of America by 15.9% during the first 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 last quarter. Geode Capital Management LLC increased its holdings 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 valued at $2,661,000 after acquiring an additional 140,986 shares during the period. JPMorgan Chase & Co. purchased a new stake in Energy Services of America in the 2nd quarter valued at $56,000. XTX Topco Ltd purchased a new stake in Energy Services of America in the 2nd quarter valued at $161,000. Finally, Russell Investments Group Ltd. acquired a new stake in Energy Services of America during the 2nd quarter worth $156,000. 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.