BATL Stock Recent News
BATL LATEST HEADLINES
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.
Battalion Oil Corporation (BATL) delivered earnings and revenue surprises of 72.88% and 42.91%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
Battalion's adjusted EBITDA should improve significantly in 2023. It is likely to end up with far lower realized hedging losses, and its gathering and other expenses will be reduced by its acid gas treating facility.
Battalion reduced its oil production guidance for 2022 by approximately 750 barrels per day, while maintaining its total production guidance. The lower than expected oil cut reduces its projected 2022 cash flow by around $15 million.