Needham Investment Management LLC Buys 235,440 Shares of Energy Services of America Co. $ESOA

Needham Investment Management LLC lifted its stake in Energy Services of America Co. (NASDAQ:ESOA) by 67.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 585,440 shares of the company’s stock after buying an additional 235,440 shares during the period. Needham Investment Management LLC’s holdings in Energy Services of America were worth $4,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in shares of 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 buying an additional 1,384 shares during the period. Larson Financial Group LLC raised 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 valued at $25,000 after purchasing an additional 1,314 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Energy Services of America during the second quarter valued at approximately $44,000. JPMorgan Chase & Co. acquired a new position in Energy Services of America during the second quarter valued at approximately $56,000. Finally, Bank of America Corp DE raised its position in Energy Services of America by 5,900.0% during the second quarter. Bank of America Corp DE now owns 5,760 shares of the company’s stock valued at $57,000 after purchasing an additional 5,664 shares in the last quarter. 2.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on ESOA shares. Weiss Ratings upgraded 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 restated a “buy” rating and set a $25.00 price objective on shares of Energy Services of America in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Energy Services of America Stock Performance

NASDAQ ESOA opened at $16.70 on Tuesday. Energy Services of America Co. has a twelve month low of $7.84 and a twelve month high of $19.94. The stock has a fifty day simple moving average of $16.03 and a 200 day simple moving average of $12.65.

Energy Services of America (NASDAQ:ESOA) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.17. The company had revenue of $93.17 million during the quarter, compared to analyst estimates of $80.90 million.

Energy Services of America Announces Dividend

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

Insider Transactions at Energy Services of America

In other Energy Services of America news, Director Mark Prince sold 33,000 shares of the 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. This trade represents a 32.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marshall T. Reynolds sold 64,942 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $15.70, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 233,000 shares of company stock worth $3,813,537 over the last ninety days. 44.68% of the stock is owned by insiders.

Energy Services of America Company 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.