144,392 Shares in Energy Services of America Co. $ESOA Acquired by Raffles Associates LP

Raffles Associates LP bought a new stake in shares of Energy Services of America Co. (NASDAQ:ESOA) during the second quarter, HoldingsChannel reports. The fund bought 144,392 shares of the company’s stock, valued at approximately $2,793,000. Energy Services of America makes up about 2.5% of Raffles Associates LP’s holdings, making the stock its 13th largest holding.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Energy Services of America during the second quarter valued at $16,172,000. Vanguard Group Inc. boosted its stake in shares of Energy Services of America by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 613,541 shares of the company’s stock worth $6,350,000 after purchasing an additional 11,798 shares during the last quarter. Needham Investment Management LLC grew its holdings in shares of 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 worth $4,783,000 after buying an additional 235,440 shares in the last quarter. Millennium Management LLC raised its position in shares of Energy Services of America by 90.4% in the third quarter. Millennium Management LLC now owns 382,589 shares of the company’s stock valued at $3,960,000 after buying an additional 181,631 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in shares of Energy Services of America by 51.6% during the second quarter. Balyasny Asset Management L.P. now owns 373,165 shares of the company’s stock valued at $3,709,000 after buying an additional 127,016 shares during the period. 2.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Energy Services of America

In related news, Director Marshall T. Reynolds sold 64,942 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $15.70, for a total value of $1,019,589.40. Following the transaction, the director owned 1,260,431 shares in the company, valued at approximately $19,788,766.70. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Douglas V. Reynolds purchased 6,000 shares of Energy Services of America stock in a transaction on Thursday, June 18th. The shares were acquired at an average cost of $16.26 per share, for a total transaction of $97,560.00. Following the completion of the transaction, the president owned 1,487,270 shares of the company’s stock, valued at $24,183,010.20. This represents a 0.41% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 143,243 shares of company stock worth $2,250,484 in the last 90 days. 44.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings raised shares of Energy Services of America from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, August 12th. Wall Street Zen lowered Energy Services of America from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Lake Street Capital reissued a “buy” rating and issued a $25.00 price target on shares of Energy Services of America in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Energy Services of America has an average rating of “Buy” and an average price target of $25.00.

Energy Services of America Price Performance

ESOA stock opened at $11.52 on Wednesday. The stock has a 50-day moving average price of $15.66 and a two-hundred day moving average price of $15.20. Energy Services of America Co. has a 12-month low of $7.84 and a 12-month high of $19.94.

Energy Services of America (NASDAQ:ESOA) last announced its quarterly 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 for the quarter, compared to analyst estimates of $112.65 million.

Energy Services of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.04 per share. This is a boost from Energy Services of America’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.16 dividend on an annualized basis and a yield of 1.4%. Energy Services of America’s dividend payout ratio is currently 87.43%.

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.