Battalion Oil (NYSEAMERICAN:BATL) Stock Price Down 3% – Here’s Why

Battalion Oil Co. (NYSEAMERICAN:BATL) dropped 3% during trading on Friday . The company traded as low as $1.30 and last traded at $1.31. Approximately 3,780,614 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 14,174,888 shares. The stock had previously closed at $1.35.

Battalion Oil Price Performance

The company has a market capitalization of $28.85 million, a PE ratio of -0.23 and a beta of 0.43. The business’s 50 day simple moving average is $1.44 and its 200 day simple moving average is $4.20.

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

Institutional Trading of Battalion Oil

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Battalion Oil in the 2nd quarter worth about $977,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Battalion Oil during the 1st quarter worth about $99,000. Geode Capital Management LLC grew its holdings 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 worth $73,000 after purchasing an additional 21,737 shares during the period. XTX Topco Ltd increased its position in Battalion Oil by 74.7% during 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 in the last quarter. Finally, Citadel Advisors LLC increased its position 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 purchasing an additional 10,189 shares in the last quarter. 86.01% of the stock is owned by hedge funds and other institutional investors.

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.