Battalion Oil (NYSEAMERICAN:BATL) Shares Down 16.7% – What’s Next?

Battalion Oil Co. (NYSEAMERICAN:BATL) dropped 16.7% on Thursday . The stock traded as low as $2.03 and last traded at $2.10. Approximately 4,139,490 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 8,245,371 shares. The stock had previously closed at $2.52.

Battalion Oil Price Performance

The firm has a fifty day moving average price of $7.20 and a two-hundred day moving average price of $4.05. The stock has a market capitalization of $49.10 million, a PE ratio of -0.40 and a beta of 0.64.

Battalion Oil (NYSEAMERICAN:BATL) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.93) earnings per share for the quarter. The firm had revenue of $39.17 million during the quarter.

Insider Activity at Battalion Oil

In other news, Director Gen Iv Investment Opportunitie sold 2,369,769 shares of the stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $5.82, for a total value of $13,792,055.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Luminus Management Llc sold 1,209,377 shares of the firm’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $3.98, for a total value of $4,813,320.46. Following the transaction, the director owned 2,006,508 shares in the company, valued at $7,985,901.84. The trade was a 37.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 4,260,251 shares of company stock worth $22,412,753. Company insiders own 62.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BATL. Baader Bank Aktiengesellschaft purchased a new position in Battalion Oil during the 1st quarter worth $99,000. Geode Capital Management LLC increased its holdings in Battalion Oil by 50.4% during the 4th quarter. Geode Capital Management LLC now owns 64,862 shares of the company’s stock worth $73,000 after purchasing an additional 21,737 shares during the period. XTX Topco Ltd increased its holdings in Battalion Oil by 74.7% during the 4th quarter. XTX Topco Ltd now owns 31,627 shares of the company’s stock worth $36,000 after purchasing an additional 13,523 shares during the period. Finally, Citadel Advisors LLC increased its holdings in Battalion Oil by 40.8% during the 3rd quarter. Citadel Advisors LLC now owns 35,173 shares of the company’s stock worth $43,000 after purchasing an additional 10,189 shares during the period. 86.01% of the stock is currently owned by hedge funds and other institutional investors.

About Battalion Oil

Battalion Oil Corporation, an independent energy company, engages in the acquisition, production, exploration, and development of onshore oil and natural gas assets in the United States. It holds interests in the Delaware Basin located in the counties of Pecos, Ward, Reeves, and Winkler, Texas. It serves independent marketers, and oil and natural gas and gas pipeline companies. The company was formerly known as Halcón Resources Corporation and changed its name to Battalion Oil Corporation in January 2020.