Energy Services of America (NASDAQ:ESOA) Trading Up 10.2% – Here’s Why

Energy Services of America Co. (NASDAQ:ESOA)’s stock price shot up 10.2% on Wednesday . The company traded as high as $11.79 and last traded at $11.03. 564,823 shares traded hands during mid-day trading, an increase of 104% from the average session volume of 277,094 shares. The stock had previously closed at $10.01.

Energy Services of America Price Performance

The stock has a 50-day moving average of $13.29 and a two-hundred day moving average of $11.59.

Energy Services of America (NASDAQ:ESOA) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05).

Energy Services of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.09%. This is a boost from Energy Services of America’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Friday, December 13th. Energy Services of America’s dividend payout ratio is presently 16.39%.

Insiders Place Their Bets

In related news, Director Marshall T. Reynolds sold 34,713 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $16.04, for a total transaction of $556,796.52. Following the completion of the sale, the director now owns 1,525,373 shares in the company, valued at approximately $24,466,982.92. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 44.68% of the company’s stock.

Institutional Trading of Energy Services of America

A number of hedge funds have recently bought and sold shares of the company. Navellier & Associates Inc. increased its position in Energy Services of America by 4.2% in the fourth quarter. Navellier & Associates Inc. now owns 34,000 shares of the company’s stock worth $429,000 after buying an additional 1,382 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of Energy Services of America by 7.7% in the 3rd quarter. Ritholtz Wealth Management now owns 65,547 shares of the company’s stock valued at $623,000 after purchasing an additional 4,669 shares during the last quarter. State Street Corp lifted its stake in shares of Energy Services of America by 16.4% during the 3rd quarter. State Street Corp now owns 35,529 shares of the company’s stock worth $338,000 after acquiring an additional 5,000 shares during the last quarter. Virtu Financial LLC lifted its stake in shares of Energy Services of America by 35.4% during the 3rd quarter. Virtu Financial LLC now owns 21,110 shares of the company’s stock worth $201,000 after acquiring an additional 5,516 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Energy Services of America during the 4th quarter worth approximately $100,000. Hedge funds and other institutional investors own 2.13% of the company’s stock.

About Energy Services of America

Energy Services of America Corporation, together with its subsidiaries, provides contracting services for utilities and energy related companies in the United States. The company constructs, replaces, and repairs interstate and intrastate natural gas pipelines and storage facilities for utility companies and private natural gas companies; and provides services relating to pipeline, storage facilities, and plant works.