Battalion Oil (NYSEAMERICAN:BATL) Stock Price Down 9.1% – Time to Sell?

Battalion Oil Co. (NYSEAMERICAN:BATL)’s stock price dropped 9.1% during mid-day trading on Thursday . The stock traded as low as $1.37 and last traded at $1.40. Approximately 2,574,786 shares changed hands during trading, a decline of 43% from the average daily volume of 4,508,046 shares. The stock had previously closed at $1.54.

Battalion Oil Price Performance

The firm has a 50-day moving average of $3.09 and a 200-day moving average of $4.12. The stock has a market cap of $29.07 million, a PE ratio of -0.24 and a beta of 0.42.

Battalion Oil (NYSEAMERICAN:BATL) last released its 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.

Insider Activity at Battalion Oil

In other Battalion Oil 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 stock was sold at an average price of $5.82, for a total transaction of $13,792,055.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 shares were 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 of the company’s stock, valued at $7,985,901.84. This represents a 37.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,260,251 shares of company stock valued at $22,412,753 in the last 90 days. 62.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Battalion Oil

Several institutional investors have recently added to or reduced their stakes in BATL. Baader Bank Aktiengesellschaft purchased a new position in Battalion Oil during the 1st quarter valued at approximately $99,000. Geode Capital Management LLC increased its position in shares of Battalion Oil by 50.4% during the 4th quarter. Geode Capital Management LLC now owns 64,862 shares of the company’s stock valued at $73,000 after purchasing an additional 21,737 shares during the last quarter. XTX Topco Ltd increased its position in shares of Battalion Oil by 74.7% during the 4th 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 during the last quarter. Finally, Citadel Advisors LLC increased its position in shares of Battalion Oil by 40.8% during the 3rd quarter. Citadel Advisors LLC now owns 35,173 shares of the company’s stock valued at $43,000 after purchasing an additional 10,189 shares during the last quarter. Hedge funds and other institutional investors own 86.01% of the company’s stock.

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.