BlackRock Inc. Makes New $49.59 Million Investment in Hallador Energy Company $HNRG

Key Points

• BlackRock acquired 2.85 million Hallador Energy shares worth approximately $49.6 million, giving it a 6.05% stake. Institutional investors collectively own 61.38% of HNRG.
• Hallador Energy directors purchased 35,000 shares valued at roughly $589,170 over the past three months, while insiders own 17.43% of the company.
• The company missed quarterly EPS expectations, reporting a $0.32 loss per share versus the expected $0.12 loss, despite revenue of $101.5 million exceeding estimates. Analyst views remain mixed, but the consensus rating is “Moderate Buy” with a $25.12 price target.

BlackRock Inc. acquired a new position in shares of Hallador Energy Company (NASDAQ:HNRG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,851,856 shares of the energy company's stock, valued at approximately $49,594,000. BlackRock Inc. owned about 6.05% of Hallador Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in HNRG. Deutsche Bank AG purchased a new stake in Hallador Energy in the 2nd quarter valued at about $13,534,000. Persistent Asset Partners Ltd acquired a new position in shares of Hallador Energy during the 2nd quarter valued at about $42,000. Bank of New York Mellon Corp acquired a new position in shares of Hallador Energy during the 2nd quarter valued at about $7,037,000. State of Wyoming purchased a new position in shares of Hallador Energy during the 2nd quarter worth about $32,000. Finally, Empyrean Capital Partners LP purchased a new position in shares of Hallador Energy during the 1st quarter worth about $8,140,000. Hedge funds and other institutional investors own 61.38% of the company's stock.

Insider Transactions at Hallador Energy

In other Hallador Energy news, Director Charles Ray Iv Wesley purchased 15,000 shares of Hallador Energy stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased at an average price of $16.69 per share, with a total value 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. This trade represents a 4.64% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Timothy Hudson acquired 10,000 shares of the stock in a transaction on Monday, June 29th. The shares were acquired at an average price of $16.94 per share, with a total value of $169,400.00. Following the purchase, the director owned 15,000 shares in the company, valued at $254,100. This represents a 200.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 35,000 shares of company stock valued at $589,170 in the last three months. 17.43% of the stock is currently owned by company insiders.

Hallador Energy Stock Up 2.1%

NASDAQ HNRG opened at $16.58 on Tuesday. The stock has a market cap of $781.63 million, a PE ratio of 829.00 and a beta of 0.25. Hallador Energy Company has a fifty-two week low of $13.65 and a fifty-two week high of $24.70. The business has a 50 day moving average price of $16.02 and a two-hundred day moving average price of $17.04. The company has a quick ratio of 0.24, a current ratio of 0.72 and a debt-to-equity ratio of 0.21.

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

Analysts Set New Price Targets

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

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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