Key Points
- Energy Services of America President Douglas Reynolds bought 6,000 shares at an average price of $16.26, a transaction worth $97,560. After the purchase, he owned 1,487,270 shares, slightly increasing his stake.
- The company recently reported better-than-expected quarterly results, earning $0.01 per share versus an expected loss, while revenue of $93.17 million also topped estimates.
- Energy Services of America also raised its quarterly dividend to $0.04 per share from $0.03, and analysts currently view the stock as a Moderate Buy with a $25 price target.
Energy Services of America Co. (NASDAQ:ESOA - Get Free Report) President Douglas Reynolds purchased 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 completion of the acquisition, the president owned 1,487,270 shares in the company, valued at approximately $24,183,010.20. This trade represents a 0.41% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Energy Services of America Stock Performance
Shares of ESOA opened at $17.89 on Tuesday. Energy Services of America Co. has a 12-month low of $7.84 and a 12-month high of $19.94. The company's 50-day moving average price is $16.37 and its 200 day moving average price is $12.94.
Energy Services of America (NASDAQ:ESOA - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.01 earnings per share 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 analysts' expectations of $80.90 million.
Energy Services of America Increases Dividend
The business also recently disclosed 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. This represents a $0.16 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 an increase from Energy Services of America's previous quarterly dividend of $0.03. Energy Services of America's dividend payout ratio is 65.57%.
Institutional Investors Weigh In On Energy Services of America
Hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its position in shares of 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 boosted its holdings in Energy Services of America by 137.6% in the third quarter. BNP Paribas Financial Markets now owns 2,390 shares of the company's stock valued at $25,000 after purchasing an additional 1,384 shares during the period. PNC Financial Services Group Inc. grew its stake in Energy Services of America by 80.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,871 shares of the company's stock worth $38,000 after purchasing an additional 1,283 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Energy Services of America during the 2nd quarter worth $44,000. Finally, JPMorgan Chase & Co. purchased a new stake in Energy Services of America during the 2nd quarter worth about $56,000. 2.13% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ESOA has been the topic of a number of research reports. Weiss Ratings upgraded Energy Services of America from a "hold (c-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 13th. Lake Street Capital reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Energy Services of America in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Energy Services of America presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.
View Our Latest Stock Analysis on Energy Services of America
About Energy Services of America
(
Get Free Report)
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.
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