Walleye Capital LLC Takes Position in Energy Services of America Co. $ESOA

Walleye Capital LLC bought a new stake in Energy Services of America Co. (NASDAQ:ESOA) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 70,193 shares of the company’s stock, valued at approximately $922,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Energy Services of America by 2.0% during the third quarter. Vanguard Group Inc. now owns 613,541 shares of the company’s stock valued at $6,350,000 after acquiring an additional 11,798 shares during the period. Needham Investment Management LLC lifted its position in shares of Energy Services of America by 67.3% in the 4th quarter. Needham Investment Management LLC now owns 585,440 shares of the company’s stock worth $4,783,000 after acquiring an additional 235,440 shares during the period. Millennium Management LLC lifted its position in shares of Energy Services of America by 90.4% in the 3rd quarter. Millennium Management LLC now owns 382,589 shares of the company’s stock worth $3,960,000 after acquiring an additional 181,631 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of Energy Services of America by 51.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 373,165 shares of the company’s stock worth $3,709,000 after purchasing an additional 127,016 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Energy Services of America by 11.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 363,355 shares of the company’s stock valued at $2,968,000 after purchasing an additional 38,575 shares in the last quarter. 2.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on ESOA shares. Lake Street Capital reaffirmed a “buy” rating and issued a $25.00 target price on shares of Energy Services of America in a research report on Tuesday, May 12th. Weiss Ratings raised shares of Energy Services of America from a “hold (c-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Energy Services of America presently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Insiders Place Their Bets

In other news, President Douglas V. Reynolds bought 6,000 shares of the stock in a transaction dated Thursday, June 18th. The shares were acquired at an average price of $16.26 per share, with a total value of $97,560.00. Following 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Prince sold 33,000 shares of the company’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 completion of the sale, the director directly owned 67,071 shares in the company, valued at approximately $1,193,863.80. The trade was a 32.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 233,000 shares of company stock worth $3,813,537 over the last three months. 44.68% of the stock is currently owned by corporate insiders.

Energy Services of America Trading Down 4.7%

ESOA stock opened at $15.94 on Friday. Energy Services of America Co. has a 1-year low of $7.84 and a 1-year high of $19.94. The business’s 50 day moving average is $16.82 and its 200-day moving average is $14.39.

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

Energy Services of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.04 per share. This is an increase from Energy Services of America’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, June 30th. Energy Services of America’s dividend payout ratio is currently 87.43%.

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.