Bullish indicating open at $55-$60, IPO prices at $37
HUNTINGTON, WV — Prince Mark, a director at Energy Services of America (OTC:ESOA) Corp (NASDAQ:ESOA), recently acquired 21,000 shares of the company’s common stock. The transaction, which took place on February 12, 2025, was executed at a weighted average price of $10.96 per share, amounting to a total purchase value of $230,160. Following this transaction, Mark’s direct ownership in Energy Services of America stands at 100,071 shares. The stock, currently trading at $9.74, appears undervalued according to InvestingPro analysis, with analysts setting a $20 price target.
This acquisition reflects Mark’s continued investment in the company, which is involved in water, sewer, pipeline, communication, and power line construction. The company maintains a "GREAT" financial health score on InvestingPro, with liquid assets exceeding short-term obligations and a moderate debt level. The transaction details were disclosed in a Form 4 filing with the Securities and Exchange Commission. InvestingPro subscribers have access to 8 additional key insights about ESOA’s financial performance and outlook.
In other recent news, Energy Services of America Corporation has made significant strides in its business operations. Firstly, the company completed the acquisition of assets from Tribute Contracting & Consultants, LLC. This notable acquisition, valued at $22.0 million in cash and $2.0 million in Energy Services Common Stock, was financed through a $16.0 million loan from United Bank, West Virginia, and the balance from Energy Services’ funds. Todd Harrah and Tommy Enyart, key figures at Tribute, will continue their roles within the newly formed subsidiary of Energy Services. This strategic move is expected to expand Energy Services’ operational capabilities and enhance its regional market position.
In other developments, Energy Services has initiated a quarterly cash dividend. The company’s board of directors declared a dividend of $0.03 per common share. This move reflects the board’s intention to increase the annual cash dividend from last year’s total of $0.06 to $0.12, starting with this quarterly dividend initiative. These recent developments indicate Energy Services’ active pursuit of growth and shareholder value enhancement.
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