Short Interest in Energy Services of America Co. (NASDAQ:ESOA) Expands By 33.1%

Energy Services of America Co. (NASDAQ:ESOA) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 353,300 shares, a growth of 33.1% from the November 15th total of 265,500 shares. Approximately 3.1% of the shares of the stock are sold short. Based on an average daily volume of 163,100 shares, the days-to-cover ratio is presently 2.2 days.

Insiders Place Their Bets

In related news, Director Jack M. Reynolds sold 25,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $10.30, for a total transaction of $257,500.00. Following the completion of the transaction, the director now directly owns 408,385 shares of the company’s stock, valued at approximately $4,206,365.50. This represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Samuel G. Kapourales sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $10.10, for a total value of $505,000.00. Following the transaction, the director now owns 714,191 shares of the company’s stock, valued at $7,213,329.10. This represents a 6.54 % decrease in their position. The disclosure for this sale can be found here. 44.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Energy Services of America

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management increased its position in shares of Energy Services of America by 7.7% during 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 boosted its stake in Energy Services of America by 16.4% during the third quarter. State Street Corp now owns 35,529 shares of the company’s stock worth $338,000 after buying an additional 5,000 shares during the period. Virtu Financial LLC increased its position in Energy Services of America by 35.4% during the third quarter. Virtu Financial LLC now owns 21,110 shares of the company’s stock valued at $201,000 after acquiring an additional 5,516 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Energy Services of America by 12.8% in the second quarter. Renaissance Technologies LLC now owns 203,892 shares of the company’s stock valued at $1,460,000 after acquiring an additional 23,192 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Energy Services of America by 20.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 178,625 shares of the company’s stock worth $1,279,000 after acquiring an additional 30,694 shares during the last quarter. 2.13% of the stock is currently owned by hedge funds and other institutional investors.

Energy Services of America Price Performance

ESOA stock traded up $0.36 during trading on Friday, hitting $15.99. 228,378 shares of the company’s stock traded hands, compared to its average volume of 160,253. The business has a fifty day simple moving average of $12.96 and a 200 day simple moving average of $9.88. Energy Services of America has a 52 week low of $3.46 and a 52 week high of $16.97.

Energy Services of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.03 per share. This is a boost from Energy Services of America’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, December 13th. Energy Services of America’s payout ratio is presently 16.39%.

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.