Battalion Oil (NYSEAMERICAN:BATL) Shares Up 1% - What's Next?

Key Points

• Battalion Oil shares rose 1% to $1.06 in mid-day trading, although volume fell 48% below the average session volume. The stock remains below its 50-day and 200-day moving averages.
• The company reported a quarterly loss of $0.11 per share on revenue of $48.13 million, while its market capitalization stood at approximately $60.7 million.
• Director William Rogers purchased 70,000 shares, and insiders own 41.3% of the company. Institutional investors and hedge funds hold a larger 86.01% stake, with several firms establishing new positions recently.

Battalion Oil Co. (NYSEAMERICAN:BATL - Get Free Report)'s stock price was up 1% during mid-day trading on Monday. The stock traded as high as $1.08 and last traded at $1.06. Approximately 2,698,836 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 5,146,598 shares. The stock had previously closed at $1.05.

Battalion Oil Stock Performance

The stock has a market cap of $60.72 million, a PE ratio of -0.21 and a beta of 0.45. The business has a 50-day moving average of $1.34 and a 200 day moving average of $2.93.

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

Insider Buying and Selling at Battalion Oil

In other news, Director William Rogers acquired 70,000 shares of the business's stock in a transaction dated Wednesday, August 26th. The stock was acquired at an average price of $1.30 per share, with a total value of $91,000.00. Following the completion of the transaction, the director directly owned 72,000 shares in the company, valued at approximately $93,600. This represents a 3,500.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 41.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Battalion Oil

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Battalion Oil in the 2nd quarter valued at $977,000. HighTower Advisors LLC acquired a new stake in shares of Battalion Oil during 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 purchased a new stake in shares of Battalion Oil in the second quarter valued at $38,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in shares of Battalion Oil in the first quarter valued at $99,000. Institutional investors and hedge funds own 86.01% of the company's stock.

About Battalion Oil

Battalion Oil Corporation is an independent energy company engaged in the acquisition, development, exploration and production of onshore oil and natural gas properties. Its operations are focused primarily on crude oil, natural gas and natural gas liquids produced from unconventional formations.

The company's activities are concentrated in the Delaware Basin, a major oil and gas producing region within the Permian Basin of West Texas and southeastern New Mexico. Battalion Oil operates and develops acreage in this region using horizontal drilling and hydraulic fracturing techniques.

Headquartered in Houston, Texas, Battalion Oil was formerly known as Halcón Resources Corporation and adopted its current name following a corporate restructuring.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.