Battalion Oil Co. (NYSEAMERICAN:BATL – Get Free Report)’s share price dropped 3.8% during trading on Monday. The stock traded as low as $1.00 and last traded at $1.01. 2,306,495 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 2,873,979 shares. The stock had previously closed at $1.05.
Battalion Oil Price Performance
The stock’s 50-day moving average price is $1.20 and its 200 day moving average price is $1.81. The firm has a market capitalization of $39.58 million, a PE ratio of -0.14 and a beta of 0.44.
Battalion Oil (NYSEAMERICAN:BATL – Get Free Report) last issued its 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 Buying and Selling
In other Battalion Oil news, Director William Rogers acquired 70,000 shares of Battalion Oil stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average price of $1.30 per share, with a total value of $91,000.00. Following the completion of the purchase, the director directly owned 72,000 shares of the company’s stock, valued at approximately $93,600. This represents a 3,500.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 41.30% of the stock is owned by company insiders.
Hedge Funds Weigh In On Battalion Oil
Large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC bought a new position in shares of Battalion Oil during the 2nd quarter worth approximately $131,000. AlphaGrep UK Ltd acquired a new stake in Battalion Oil during the 2nd quarter worth about $43,000. Susquehanna International Group LLP purchased a new stake in Battalion Oil in the second quarter valued at approximately $38,000. BlackRock Inc. purchased a new stake in Battalion Oil in the second quarter valued at $977,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in Battalion Oil in the 1st quarter worth approximately $99,000. 86.01% of the stock is currently owned by institutional investors.
About Battalion Oil
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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