Energy Services of America (NASDAQ:ESOA) Trading Down 2.6% – Time to Sell?

Energy Services of America Co. (NASDAQ:ESOA) dropped 2.6% during mid-day trading on Monday . The stock traded as low as $16.37 and last traded at $16.41. 98,533 shares changed hands during trading, a decline of 47% from the average session volume of 184,577 shares. The stock had previously closed at $16.84.

Wall Street Analysts Forecast Growth

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

Energy Services of America Stock Up 0.7%

The stock’s 50 day moving average is $17.06 and its 200 day moving average is $13.97.

Energy Services of America (NASDAQ:ESOA) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.01 earnings per share (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 analyst estimates of $80.90 million.

Energy Services of America Increases Dividend

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

Insider Buying and Selling

In other Energy Services of America news, Director Marshall T. Reynolds sold 35,058 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $18,356,087.54. This represents a 2.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark Prince sold 33,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $17.80, for a total value of $587,400.00. Following the transaction, the director owned 67,071 shares in the company, valued at $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. In the last ninety days, insiders sold 233,000 shares of company stock valued at $3,813,537. Insiders own 44.68% of the company’s stock.

Institutional Investors Weigh In On Energy Services of America

Institutional investors have recently modified their holdings of the business. Larson Financial Group LLC increased its position in Energy Services of America by 117.1% during the third quarter. Larson Financial Group LLC now owns 2,436 shares of the company’s stock worth $25,000 after acquiring an additional 1,314 shares during the period. BNP Paribas Financial Markets raised its stake in Energy Services of America by 137.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,390 shares of the company’s stock worth $25,000 after purchasing an additional 1,384 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Energy Services of America by 80.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,871 shares of the company’s stock valued at $38,000 after purchasing an additional 1,283 shares during the period. Raymond James Financial Inc. bought a new stake in Energy Services of America in the 2nd quarter valued at about $44,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Energy Services of America during the 2nd quarter worth approximately $56,000. 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.