Battalion Oil (NYSEAMERICAN:BATL) Trading Down 2.4% – Here’s What Happened

Battalion Oil Co. (NYSEAMERICAN:BATL)’s share price dropped 2.4% during trading on Friday . The company traded as low as $1.19 and last traded at $1.23. 6,136,371 shares were traded during mid-day trading, a decline of 70% from the average session volume of 20,398,972 shares. The stock had previously closed at $1.26.

Battalion Oil Stock Down 2.4%

The company has a market cap of $27.08 million, a P/E ratio of -0.22 and a beta of 0.42. The firm has a fifty day moving average price of $2.23 and a 200 day moving average price of $4.14.

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

Insiders Place Their Bets

In other Battalion Oil news, Director Luminus Management Llc sold 1,209,377 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $3.98, for a total value of $4,813,320.46. Following the completion of the transaction, the director directly owned 2,006,508 shares of the company’s stock, valued at approximately $7,985,901.84. The trade was a 37.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 41.30% of the company’s stock.

Institutional Trading of Battalion Oil

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd increased its holdings in shares of Battalion Oil by 74.7% in the fourth quarter. XTX Topco Ltd now owns 31,627 shares of the company’s stock valued at $36,000 after purchasing an additional 13,523 shares in the last quarter. Citadel Advisors LLC lifted 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 buying an additional 10,189 shares in the last quarter. Geode Capital Management LLC lifted 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 buying an additional 21,737 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new position in Battalion Oil in the 1st quarter valued at $99,000. 86.01% of the stock is owned by institutional investors.

Battalion Oil Company Profile

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.