sorting in wp query based on custom field value

'orderby' => $company_name,” should be “'orderby' => 'meta_value',

If the value of _company_name is numeric – it should be meta_value_num.

Note that ‘orderby’ can only have a predefined value and ordering does it alphabetical

See the possible values at the WP_Query orderby parameter: https://codex.wordpress.org/Class_Reference/WP_Query#Order_.26_Orderby_Parameters

The ordering parameter says: Order alphabetical by the values of meta_key_company_name in your case. That is not what your question says.

If you only want posts from a specific company in first place you have to do 2 loops.

One with the $company_name as you did and one with excluding $company_name

First loops args:

$related_args_company = array(
    'post_type' => 'job_listing',
    'posts_per_page' => 6,
    'post_status' => 'publish',
    'post__not_in' => array( $post->ID ),
    'meta_query' => array(    
                        'relation' => 'AND',
                        array(
                              'key'   => '_job_location', 
                              'value' => $job_location,
                              ),
                        array(
                              'key'   => '_company_name', 
                              'value' => $company_name,
                              ),      

                    ),

    );

Second loops args:

$related_args = array(
    'post_type' => 'job_listing',
    'posts_per_page' => 6,
    'post_status' => 'publish',
    'post__not_in' => array( $post->ID ),
    'meta_query' => array(    
                        'relation' => 'AND',
                        array(
                              'key'   => '_job_location', 
                              'value' => $job_location,
                              ),
                        array(
                              'key' => '_company_name',
                              'value' => $company_name,
                              'compare' => 'NOT LIKE'
                        ),

                    ),

    );

kind regards,
tom

tech