Battalion Oil (NYSEAMERICAN:BATL) Shares Down 16.7% – Time to Sell?

Battalion Oil Co. (NYSEAMERICAN:BATL)’s share price dropped 16.7% during mid-day trading 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 market capitalization of $45.09 million, a P/E ratio of -0.38 and a beta of 0.64. The firm’s fifty day moving average price is $7.53 and its 200-day moving average price is $4.07.

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

Insider Buying and Selling

In related news, Director Gen Iv Investment Opportunitie sold 2,369,769 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $5.82, for a total transaction of $13,792,055.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Luminus Management Llc sold 1,209,377 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $3.98, for a total transaction 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 $7,985,901.84. This represents a 37.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,260,251 shares of company stock valued at $22,412,753 over the last 90 days. 62.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Battalion Oil

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BATL. XTX Topco Ltd boosted its stake in Battalion Oil by 74.7% in 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. Citadel Advisors LLC boosted its stake in Battalion Oil by 40.8% in 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. Geode Capital Management LLC boosted its stake in Battalion Oil by 50.4% in 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. Finally, Baader Bank Aktiengesellschaft acquired a new position in Battalion Oil in the 1st quarter worth approximately $99,000. Institutional investors and hedge funds own 86.01% of the company’s stock.

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.