Battalion Oil (NYSEAMERICAN:BATL) Shares Down 3.8% - Here's Why

Key Points

• Battalion Oil shares fell 3.8% to $1.01 during Monday’s trading, with roughly 2.31 million shares changing hands. The stock’s market capitalization was approximately $57.85 million.
• The company reported a quarterly loss of $0.11 per share on revenue of $48.13 million, while its 50-day and 200-day moving averages stood at $1.21 and $1.83, respectively.
• Director William Rogers bought 70,000 shares for $91,000, and insiders own 41.3% of the company. Institutional investors and hedge funds hold a larger combined stake of 86.01%.

Battalion Oil Co. (NYSEAMERICAN:BATL - Get Free Report) was down 3.8% during mid-day trading on Monday. The stock traded as low as $1.00 and last traded at $1.01. Approximately 2,306,495 shares traded hands during trading, a decline of 20% from the average session volume of 2,873,979 shares. The stock had previously closed at $1.05.

Battalion Oil Stock Performance

The company has a market capitalization of $57.85 million, a price-to-earnings ratio of -0.20 and a beta of 0.44. The stock's 50-day moving average price is $1.21 and its 200-day moving average price is $1.83.

Battalion Oil (NYSEAMERICAN:BATL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.11) earnings per share for the quarter. The business had revenue of $48.13 million during the quarter.

Insider Activity at Battalion Oil

In related news, Director William Rogers acquired 70,000 shares of Battalion Oil stock in a transaction on Wednesday, August 26th. The shares were bought at an average price of $1.30 per share, for a total transaction of $91,000.00. Following the completion of the purchase, the director directly owned 72,000 shares in the company, valued at $93,600. This trade represents a 3,500.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 41.30% of the company's stock.

Hedge Funds Weigh In On Battalion Oil

Several institutional investors and hedge funds have recently made changes to their positions in BATL. BlackRock Inc. bought a new position in shares of Battalion Oil during the second quarter worth about $977,000. HighTower Advisors LLC acquired a new position in Battalion Oil in the second quarter worth $131,000. AlphaGrep UK Ltd acquired a new stake in shares of Battalion Oil during the second quarter worth $43,000. Susquehanna International Group LLP bought a new position in shares of Battalion Oil in the 2nd quarter worth about $38,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Battalion Oil during the 1st quarter valued at about $99,000. 86.01% of the stock is currently owned by hedge funds and other institutional investors.

Battalion Oil Company Profile

Battalion Oil Corporation is an independent energy company engaged in the acquisition, development, exploration and production of oil, natural gas and natural gas liquids. Its operations are focused primarily on unconventional resources in the Delaware Basin, a major hydrocarbon-producing region in West Texas.

The company's activities include managing oil and gas acreage, drilling and completing horizontal wells, and producing and marketing hydrocarbons from its operated properties. Battalion Oil has historically concentrated its operations in the Permian Basin, particularly in areas of Reeves and Pecos counties, Texas.

Battalion Oil was formed following the restructuring of Halcón Resources Corporation and adopted its current name in 2019.

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