Battalion Oil (NYSE:BATL) Releases Earnings Results

Battalion Oil (NYSE:BATL) announced its quarterly earnings results on Wednesday. The company reported ($0.73) earnings per share for the quarter, reports. The firm had revenue of $54.11 million during the quarter. Battalion Oil had a negative net margin of 17.33% and a negative return on equity of 17.88%.

Battalion Oil Stock Performance

Shares of BATL stock opened at $6.07 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market capitalization of $99.91 million, a P/E ratio of -2.00 and a beta of 0.99. The company’s 50 day moving average price is $6.00 and its two-hundred day moving average price is $6.37. Battalion Oil has a 52 week low of $4.86 and a 52 week high of $12.37.

Hedge Funds Weigh In On Battalion Oil

Several hedge funds have recently made changes to their positions in BATL. Citigroup Inc. bought a new position in shares of Battalion Oil during the 1st quarter worth approximately $84,000. Dimensional Fund Advisors LP bought a new position in Battalion Oil during the first quarter worth $358,000. Renaissance Technologies LLC boosted its position in Battalion Oil by 23.4% during the first quarter. Renaissance Technologies LLC now owns 20,600 shares of the company’s stock worth $383,000 after purchasing an additional 3,900 shares during the period. UBS Group AG boosted its position in Battalion Oil by 102.2% during the first quarter. UBS Group AG now owns 1,399 shares of the company’s stock worth $26,000 after purchasing an additional 707 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Battalion Oil by 48.2% during the first quarter. Goldman Sachs Group Inc. now owns 910,559 shares of the company’s stock worth $16,918,000 after purchasing an additional 296,132 shares during the period.

Wall Street Analyst Weigh In

Several analysts have commented on BATL shares. TheStreet downgraded shares of Battalion Oil from a “c-” rating to a “d” rating in a report on Wednesday, November 1st. Roth Mkm dropped their target price on shares of Battalion Oil from $24.00 to $18.60 and set a “neutral” rating on the stock in a report on Monday, September 11th.

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, Reeves, Ward, and Winkler, Texas. The company was formerly known as Halcón Resources Corporation and changed its name to Battalion Oil Corporation in January 2020.