Raffles Associates LP Acquires Shares of 144,392 Energy Services of America Co. $ESOA

Raffles Associates LP acquired a new stake in Energy Services of America Co. (NASDAQ:ESOA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 144,392 shares of the company’s stock, valued at approximately $2,793,000. Energy Services of America accounts for approximately 2.5% of Raffles Associates LP’s portfolio, making the stock its 13th biggest holding.

A number of other hedge funds have also modified their holdings of the business. Larson Financial Group LLC raised its position in Energy Services of America by 117.1% in the 3rd quarter. Larson Financial Group LLC now owns 2,436 shares of the company’s stock valued at $25,000 after purchasing an additional 1,314 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Energy Services of America by 137.6% during 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 during the period. Legal & General Group Plc purchased a new position in Energy Services of America during the 2nd quarter worth $26,000. PNC Financial Services Group Inc. grew its position 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 during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Energy Services of America in the second quarter valued at $44,000. 2.13% of the stock is currently owned by hedge funds and other institutional investors.

Energy Services of America Trading Down 0.1%

NASDAQ:ESOA opened at $11.52 on Wednesday. The firm’s fifty day moving average price is $15.66 and its 200 day moving average price is $15.20. Energy Services of America Co. has a 1-year low of $7.84 and a 1-year high of $19.94.

Energy Services of America (NASDAQ:ESOA) last released its earnings results on Monday, August 10th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $130.01 million during the quarter, compared to analyst estimates of $112.65 million.

Energy Services of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.04 dividend. The ex-dividend date was Tuesday, June 30th. This is a positive change from Energy Services of America’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 1.4%. Energy Services of America’s dividend payout ratio (DPR) is currently 87.43%.

Analyst Ratings Changes

A number of brokerages have recently commented on ESOA. 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. Wall Street Zen cut Energy Services of America from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings raised Energy Services of America from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $25.00.

Insider Transactions at Energy Services of America

In related news, President Douglas V. Reynolds acquired 6,000 shares of Energy Services of America stock in a transaction that occurred on Thursday, June 18th. The stock was purchased at an average price of $16.26 per share, for a total transaction of $97,560.00. Following the completion of the purchase, the president directly owned 1,487,270 shares of the company’s stock, valued at approximately $24,183,010.20. This trade represents a 0.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marshall T. Reynolds sold 64,942 shares of Energy Services of America stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $15.70, for a total transaction of $1,019,589.40. Following the sale, the director owned 1,260,431 shares of the company’s stock, valued at approximately $19,788,766.70. The trade was a 4.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 143,243 shares of company stock valued at $2,250,484 in the last quarter. Insiders own 44.68% of the company’s stock.

Energy Services of America Profile

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.