Bank of New York Mellon Corp Buys 79,229 Shares of Hallador Energy Company $HNRG

Key Points

• Bank of New York Mellon increased its Hallador Energy stake by 24.8%, adding 79,229 shares to own 398,633 shares worth approximately $6.49 million. Institutional investors collectively hold 61.38% of HNRG.
• Analysts maintain a cautiously positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $26.62. Recent ratings included upgrades from “sell” to “hold” and “strong sell” to “sell.”
• Hallador Energy reported quarterly revenue of $101.81 million and an adjusted loss of $0.20 per share, missing consensus estimates. Meanwhile, company directors purchased a combined 25,000 shares in June, and insiders acquired 35,000 shares worth $589,170 over the past 90 days.

Bank of New York Mellon Corp grew its holdings in shares of Hallador Energy Company (NASDAQ:HNRG - Free Report) by 24.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 398,633 shares of the energy company's stock after buying an additional 79,229 shares during the period. Bank of New York Mellon Corp owned 0.85% of Hallador Energy worth $6,490,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of Hallador Energy during the first quarter valued at approximately $31,000. Griffin Asset Management Inc. purchased a new position in Hallador Energy in the 1st quarter worth about $214,000. AdvisorShares Investments LLC purchased a new stake in Hallador Energy in the first quarter worth approximately $466,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Hallador Energy in the first quarter worth $292,000. Finally, SG Americas Securities LLC increased its position in shares of Hallador Energy by 34.6% during the 1st quarter. SG Americas Securities LLC now owns 33,721 shares of the energy company's stock valued at $549,000 after purchasing an additional 8,675 shares during the last quarter. Hedge funds and other institutional investors own 61.38% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HNRG shares. Weiss Ratings raised shares of Hallador Energy from a "sell (d-)" rating to a "hold (c-)" rating in a report on Thursday, May 7th. Wall Street Zen upgraded Hallador Energy from a "strong sell" rating to a "sell" rating in a research note on Sunday, June 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $26.62.

Hallador Energy Price Performance

Shares of Hallador Energy stock opened at $14.94 on Tuesday. Hallador Energy Company has a 12 month low of $13.65 and a 12 month high of $24.70. The business has a 50 day simple moving average of $16.91 and a two-hundred day simple moving average of $17.54. The stock has a market capitalization of $704.12 million, a P/E ratio of 28.19 and a beta of 0.26.

Hallador Energy (NASDAQ:HNRG - Get Free Report) last issued its earnings results on Wednesday, May 6th. The energy company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.04). The firm had revenue of $101.81 million for the quarter, compared to analysts' expectations of $102.28 million. Hallador Energy had a return on equity of 14.25% and a net margin of 4.98%. As a group, research analysts anticipate that Hallador Energy Company will post 0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel Timothy Hudson purchased 10,000 shares of the stock in a transaction dated Monday, June 29th. The stock was acquired at an average cost of $16.94 per share, for a total transaction of $169,400.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at approximately $254,100. This represents a 200.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles Ray Iv Wesley bought 15,000 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was purchased at an average cost of $16.69 per share, with a total value of $250,350.00. Following the completion of the transaction, the director owned 338,469 shares in the company, valued at $5,649,047.61. This represents a 4.64% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 35,000 shares of company stock worth $589,170 over the last 90 days. 17.43% of the stock is owned by insiders.

About Hallador Energy

Hallador Energy Company is a coal producer and mine operator trading on NASDAQ under the symbol HNRG. The company's primary business activities center on the production and sale of bituminous thermal coal. Hallador's operations encompass two surface mines: the Shoal Creek Mine located in southwestern Indiana and the Bull Mountain Mine situated in eastern Montana. Both sites are designed to extract high-quality coal reserves for the power generation market.

Hallador Energy markets its coal primarily to electric utilities and industrial customers across the United States.

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