Bank of New York Mellon Corp Invests $7.04 Million in Hallador Energy Company $HNRG

Key Points

• Bank of New York Mellon acquired 404,653 Hallador Energy shares worth approximately $7.04 million, representing a 0.86% stake. Institutional investors and hedge funds collectively own 61.38% of HNRG.
• Analyst sentiment is mixed: some firms downgraded the stock to “strong sell,” while Alliance Global Partners raised it to “strong buy.” Hallador has an overall “Moderate Buy” rating and an average price target of $25.12.
• Company insiders purchased 35,000 shares worth $589,170 during the last quarter, but Hallador’s latest earnings missed expectations, reporting a $0.32 per-share loss versus a projected $0.12 loss.

Bank of New York Mellon Corp acquired a new position in shares of Hallador Energy Company (NASDAQ:HNRG - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 404,653 shares of the energy company's stock, valued at approximately $7,037,000. Bank of New York Mellon Corp owned 0.86% of Hallador Energy as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of HNRG. Royal Bank of Canada grew its stake in shares of Hallador Energy by 92.5% during the fourth quarter. Royal Bank of Canada now owns 1,413 shares of the energy company's stock valued at $27,000 after purchasing an additional 679 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Hallador Energy in the second quarter valued at about $27,000. Summit Securities Group LLC acquired a new stake in shares of Hallador Energy in the 1st quarter valued at approximately $31,000. State of Wyoming acquired a new stake in Hallador Energy in the second quarter worth $32,000. Finally, EverSource Wealth Advisors LLC raised its stake in Hallador Energy by 11,110.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,130 shares of the energy company's stock worth $34,000 after buying an additional 2,111 shares during the period. Institutional investors and hedge funds own 61.38% of the company's stock.

Analyst Ratings Changes

HNRG has been the subject of a number of research reports. Wall Street Zen downgraded Hallador Energy from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Northland Securities set a $28.00 price objective on shares of Hallador Energy in a research note on Tuesday, August 11th. Zacks Research cut Hallador Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 12th. Weiss Ratings cut shares of Hallador Energy from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, August 18th. Finally, Alliance Global Partners raised Hallador Energy to a "strong-buy" rating in a report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Hallador Energy has an average rating of "Moderate Buy" and an average target price of $25.12.

Insiders Place Their Bets

In other news, Director Daniel Hudson bought 5,000 shares of the firm's stock in a transaction on Thursday, July 9th. The stock was acquired at an average cost of $16.58 per share, with a total value of $82,900.00. Following the completion of the transaction, the director directly owned 20,000 shares of the company's stock, valued at $331,600. This represents a 33.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ray Wesley acquired 15,000 shares of the company's stock in a transaction on Tuesday, June 16th. The shares were acquired at an average cost of $16.69 per share, for a total transaction of $250,350.00. Following the completion of the acquisition, the director owned 338,469 shares of the company's stock, valued at approximately $5,649,047.61. The trade was a 4.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 35,000 shares of company stock worth $589,170 over the last quarter. Company insiders own 17.43% of the company's stock.

Hallador Energy Stock Down 1.5%

Shares of NASDAQ:HNRG opened at $16.11 on Friday. The company has a market capitalization of $759.47 million, a price-to-earnings ratio of 805.50 and a beta of 0.31. Hallador Energy Company has a 1 year low of $13.65 and a 1 year high of $24.70. The business's 50-day moving average is $15.93 and its 200-day moving average is $16.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.72 and a quick ratio of 0.24.

Hallador Energy (NASDAQ:HNRG - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The energy company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.20). The business had revenue of $101.51 million for the quarter, compared to analyst estimates of $90.33 million. Hallador Energy had a negative return on equity of 0.52% and a negative net margin of 0.20%. Equities research analysts predict that Hallador Energy Company will post -0.09 earnings per share for the current year.

Hallador Energy Profile

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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