Energy Services of America Co. (NASDAQ:ESOA) Sees Significant Decrease in Short Interest

Energy Services of America Co. (NASDAQ:ESOA) was the target of a large decrease in short interest during the month of April. As of April 15th, there was short interest totaling 577,288 shares, a decrease of 16.3% from the March 31st total of 689,375 shares. Based on an average daily trading volume, of 98,762 shares, the short-interest ratio is presently 5.8 days.

Wall Street Analysts Forecast Growth

ESOA has been the subject of several analyst reports. Weiss Ratings lowered shares of Energy Services of America from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. 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 investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Energy Services of America Stock Performance

ESOA stock opened at $16.80 on Friday. Energy Services of America has a 52 week low of $7.83 and a 52 week high of $17.25. The firm’s 50-day moving average is $14.32 and its two-hundred day moving average is $11.27.

Energy Services of America (NASDAQ:ESOA) last posted its quarterly earnings data on Monday, February 9th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. The company had revenue of $114.11 million during the quarter, compared to the consensus estimate of $97.70 million.

Energy Services of America Dividend Announcement

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

Insider Transactions at Energy Services of America

In other Energy Services of America news, President Douglas V. Reynolds bought 4,809 shares of the business’s stock in a transaction on Friday, March 20th. The shares were purchased at an average price of $13.26 per share, with a total value of $63,767.34. Following the completion of the acquisition, the president directly owned 1,481,270 shares of the company’s stock, valued at approximately $19,641,640.20. The trade was a 0.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 44.68% of the stock is owned by corporate insiders.

Institutional Trading of Energy Services of America

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Energy Services of America by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 613,541 shares of the company’s stock worth $6,350,000 after buying an additional 11,798 shares in the last quarter. Needham Investment Management LLC boosted its stake in Energy Services of America by 67.3% during the fourth quarter. Needham Investment Management LLC now owns 585,440 shares of the company’s stock valued at $4,783,000 after buying an additional 235,440 shares in the last quarter. Millennium Management LLC grew its holdings in Energy Services of America by 90.4% during the third 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. raised its position in Energy Services of America by 51.6% in the second quarter. Balyasny Asset Management L.P. now owns 373,165 shares of the company’s stock worth $3,709,000 after acquiring an additional 127,016 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in 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 worth $2,968,000 after acquiring an additional 38,575 shares in the last quarter. 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.