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

Battalion Oil Co. (NYSEAMERICAN:BATL) shares 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 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 Stock Down 16.7%

The stock has a market cap of $45.09 million, a price-to-earnings ratio of -0.38 and a beta of 0.64. The firm’s 50 day moving average is $7.53 and its two-hundred day moving average is $4.07.

Battalion Oil (NYSEAMERICAN:BATL) last released its quarterly earnings data 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 Activity at Battalion Oil

In other Battalion Oil news, 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 sale, the director owned 2,006,508 shares in the company, valued at approximately $7,985,901.84. This trade represents a 37.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,260,251 shares of company stock worth $22,412,753 in the last 90 days. 62.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Battalion Oil

Several large investors have recently made changes to their positions in BATL. XTX Topco Ltd increased its stake 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 during the period. Citadel Advisors LLC boosted its holdings in shares of Battalion Oil by 40.8% in the third quarter. Citadel Advisors LLC now owns 35,173 shares of the company’s stock valued at $43,000 after acquiring an additional 10,189 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Battalion Oil by 50.4% in the fourth quarter. Geode Capital Management LLC now owns 64,862 shares of the company’s stock valued at $73,000 after acquiring an additional 21,737 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Battalion Oil in the first quarter valued at approximately $99,000. Institutional investors and hedge funds 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.