BATL Stock Recent News
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Battalion Oil secured commitments for another $55 million in preferred equity. This is expected to help fund additional development, while allowing Battalion to make its scheduled term loan repayments. Preferred equity could total $166 million by its November 2025 term loan maturity.
Battalion Oil Corporation (BATL) came out with a quarterly loss of $0.42 per share versus the Zacks Consensus Estimate of a loss of $0.35. This compares to loss of $0.01 per share a year ago.
AGO, BATL and CSLLY have been added to the Zacks Rank #5 (Strong Sell) List on August 14, 2023.
Battalion Oil Corporation (BATL) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Investors should allocate money to companies whose operations are directly correlated with oil prices. Oceaneering (OII), Ecopetrol (EC) and Battalion Oil (BATL) are now well-poised to gain.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Battalion's acid gas injection project is online and Battalion believes the cost savings could be up to $2.5 million per month after full ramp up. It also has cut cash G&A costs by approximately $6 million per year. However, Battalion's interest costs still hamper its ability to quickly pay down its debt.
Battalion Oil Corporation (BATL) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of $1.02. This compares to loss of $0.22 per share a year ago.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Battalion recently issued $25 million in preferred shares, with a PIK dividend rate of 16% per year. It also had (at the end of 2022) $235 million in credit facility debt at an interest rate that was expected to be 12.2% in Q1 2023.