Battalion Oil (NYSEAMERICAN:BATL) Trading 10.8% Higher – Here’s What Happened

Battalion Oil Co. (NYSEAMERICAN:BATL) traded up 10.8% during trading on Friday . The stock traded as high as $1.83 and last traded at $1.74. Approximately 23,663,074 shares changed hands during mid-day trading, an increase of 37% from the average session volume of 17,323,164 shares. The stock had previously closed at $1.57.

Battalion Oil Stock Performance

The firm’s 50 day simple moving average is $1.62 and its 200-day simple moving average is $4.17. The company has a market cap of $38.31 million, a price-to-earnings ratio of -0.31 and a beta of 0.43.

Battalion Oil (NYSEAMERICAN:BATL) last posted its quarterly 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.

Hedge Funds Weigh In On Battalion Oil

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of 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 acquiring an additional 21,737 shares during the last quarter. Citadel Advisors LLC boosted 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 acquiring an additional 10,189 shares during the last quarter. XTX Topco Ltd boosted 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 acquiring an additional 13,523 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft purchased a new stake in shares of Battalion Oil in the first quarter valued at about $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.