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Battalion OIL Corp (BATL) stock

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NYSE: BATL NYSE Oil & Gas Exploration & Production Next results ~November 12, 2026

C Fundamentals grade

Battalion OIL Corp is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

Not valued: the figures our models need are missing or failed our data-quality checks.

Price vs value

No model value: oil and gas producer: valued on the net asset value of its proved reserves (the SEC standardised measure less debt and other claims) with the cash-flow model second; the models don't give a combined value we can rate. How we value companies.

Battalion OIL Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 6 selling2 purchases and 12 sales by directors and officers, last 12 monthsInsider trades
  • Funds22 adding, 12 cuttingOf 7 active managers that changed their stake, 1 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Battalion OIL files

Where Battalion OIL stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $163m, down 12.0% on a year earlier, a smaller fall than the 17.6% decline a quarter earlier. That puts it 31 of 33 for growth among the oil & gas exploration & production companies we cover. Free-cash-flow margin rose to -2.7% from -201.7% a year earlier. Operating margin widened to -3.2% from -7.4%. The diluted share count is up 45.1% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 6 financial-health checks.

Our models give no value for Battalion OIL at present, so past values are not shown.

Source: 10-Q filed August 12, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 12, 2026 (estimated)

Where it stands out: stock pay as % of revenue of -0.1% ranks 1 of 47 oil & gas exploration & production companies we cover. Where it lags: change in share count of 45.1% ranks 47 of 48 oil & gas exploration & production companies we cover.

Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 60% in the quarter to 2023-06-30.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 4.2 points on a year ago.

Things to watch

  • Results due soon. Results are expected around 12 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 12.0% over the last 12 months.
  • Loss-making. Operating margin is -3.2%: costs exceed revenue.
  • Burning cash. Free cash flow was -2.7% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 45.1% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 320% and a beta of -4.2 against the S&P 500.

Latest results: FY2026 Q2

Filed August 12, 2026
Earnings per share
-$0.56 against an average estimate of -$0.35: missed by 60.0%
Revenue
$48m, up 12.4% on a year earlier
Share reaction
-1.5% in the first session after the results on August 12, 2026, against +0.9% for the S&P 500

Battalion OIL's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-15.4%
  • 1 week-5.0%
  • 1 month-21.2%
  • This year-28.1%
  • 1 year-30.0%
  • 5 years-92.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$163M
Operating margin
-3.2%
Net margin
-24.5%
EPS (TTM, diluted)
$-1.67

Growth

Revenue growth
−12.0%
Change in growth rate
+5.7 pts
Share count change
+45.1%

Cash

Stock pay % of revenue
-0.1%

Earnings

Last results
August 12, 2026
Next results (est.)
November 12, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Announcement
  3. Results
  4. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Battalion OIL Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: oil and gas producer: valued on the net asset value of its proved reserves (the SEC standardised measure less debt and other claims) with the cash-flow model second; the models don't give a combined value we can rate.

Valuation models

We value Battalion OIL Corp as an oil and gas producer, with every model that fits that kind of business. Cost of equity 7.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.55 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Proved-reserve net asset value The SEC standardised measure of the company's proved oil and gas reserves (future net cash flows after tax at SEC average prices, discounted at 10%) less debt and other claims, per share. — Does not apply: no standardised measure of proved reserves in the company's tagged filings
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (proved-reserve net asset value) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. — No model applies: the filings don’t yet support a value.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Battalion OIL Corp with oil and gas producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025Now
Share price$8.30$9.80$9.71$9.61$1.72$1.13$0.81
Market value$134m$159m$160m$158m$28m$19m$19m
+ Net debt (− = net cash)$156m$153m$202m$143m$142m$180m$79m
Enterprise value$290m$313m$363m$301m$171m$199m$99m
Multiples
Price / sales 0.9x0.6x0.4x0.7x0.1x0.1x0.1x
Price / earnings ——8.6x——1.6x—
Price / free cash flow 2.7x———0.8x0.5x0.7x
EV / EBITDA ———————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

43 /100

Weak moat

How hard Battalion OIL's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -10.0% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median -5.3%; its worst year was -465.4%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 4 of 6 years, at a median 15.2% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 47.1% over five years; stock-based pay has been a median 1.2% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Battalion OIL Corp: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2023 −$0.35 −$0.56 −60.0%
Mar 2023 $0.25 $0.20 −19.2%
Dec 2022 −$0.59 $0.87 +247.5%
Sept 2022 $0.19 $2.32 +1121.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 12, 2026

No numeric guidance in Battalion OIL Corp's latest earnings release (filed August 12, 2026). Some companies give their outlook only on the earnings call.

Positioning

Short interest
10.9%
of tradable shares
Days to cover
1.39
at average volume
Short interest, 1 month
−4%
to October 15, 2026
Held by institutions
13%
of shares
Held by insiders
3.1%
of shares
Employees
40
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −30.0%

$1.16 on October 31, 2025 to $0.81

ThenNowEffect
Revenue (last 12 months) $185m $163m −12.0%
P/S multiple 0.1x 0.1x +15.3%
Share count 16m 24m −31.1%

Biggest factor: share count. Loss-making at one end, so the split uses price/sales.

Last 3 years −87.0%

$6.27 on November 3, 2023 to $0.81

ThenNowEffect
Revenue (last 12 months) $295m $163m −44.8%
P/S multiple 0.4x 0.1x −66.2%
Share count 17m 24m −30.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
BATL+18%−1%−1%−82%−34%−28%
Industry peers (median)+88%+55%−8%+2%−15%+18%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
BATL42%50%42%42%33%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
BATL−48%−63%−63%−86%−64%−98%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since December 24, 2019: 98% from March 3, 2026 to October 21, 2026. Getting back needed a 3894% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.69 – $27.68
From 52-week high
−97.1%
vs 50-day average
−26.7%
vs 200-day average
−75.6%
Volatility (1 year)
320%
Beta vs S&P 500
-4.25

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±7.4%
After a week
5 up, 7 down
typical move ±17.1%
After a month
1 up, 11 down
typical move ±21.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 12, 2026 −1.5% +0.9% 0.0% −1.5%
May 13, 2026 −23.9% +1.4% −25.7% −49.3%
March 23, 2026 −28.3% +0.7% −57.0% −68.5%
November 13, 2025 +1.8% −1.7% +2.8% 0.0%
August 14, 2025 −8.4% −0.2% −9.2% −10.8%
May 14, 2025 −1.1% +0.6% −1.1% +24.7%
March 31, 2025 +3.9% +1.0% +3.9% 0.0%
November 12, 2024 +0.8% −0.3% −57.1% −52.9%
August 14, 2024 +8.1% +2.0% +12.5% −5.9%
May 15, 2024 +1.6% +1.0% +3.0% −19.4%
April 1, 2024 +7.6% −0.8% +17.1% −9.4%
January 29, 2024 +1.9% +0.7% −15.5% −13.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Battalion OIL Corp in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Battalion OIL Corp
$150M $200M $250M $300M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $250.3M Revenue (TTM), FY23 Q4: $220.8M Revenue (TTM), FY24 Q1: $205.5M Revenue (TTM), FY24 Q2: $200.3M Revenue (TTM), FY24 Q3: $191.5M Revenue (TTM), FY24 Q4: $193.9M Revenue (TTM), FY25 Q1: $191.5M Revenue (TTM), FY25 Q2: $185.2M Revenue (TTM), FY25 Q3: $183.4M Revenue (TTM), FY25 Q4: $166M Revenue (TTM), FY26 Q1: $157.7M Revenue (TTM), FY26 Q2: $163.1M $163.1M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $250.3M
FY23 Q4 $220.8M
FY24 Q1 $205.5M
FY24 Q2 $200.3M
FY24 Q3 $191.5M
FY24 Q4 $193.9M
FY25 Q1 $191.5M
FY25 Q2 $185.2M
FY25 Q3 $183.4M
FY25 Q4 $166M
FY26 Q1 $157.7M
FY26 Q2 $163.1M
Revenue growth, TTM YoY Battalion OIL Corp
-60% -40% -20% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -31.7% Revenue growth, TTM YoY, FY23 Q4: -38.5% Revenue growth, TTM YoY, FY24 Q1: -40.0% Revenue growth, TTM YoY, FY24 Q2: -32.2% Revenue growth, TTM YoY, FY24 Q3: -23.5% Revenue growth, TTM YoY, FY24 Q4: -12.2% Revenue growth, TTM YoY, FY25 Q1: -6.8% Revenue growth, TTM YoY, FY25 Q2: -7.5% Revenue growth, TTM YoY, FY25 Q3: -4.2% Revenue growth, TTM YoY, FY25 Q4: -14.4% Revenue growth, TTM YoY, FY26 Q1: -17.6% Revenue growth, TTM YoY, FY26 Q2: -12.0% -12.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -31.7%
FY23 Q4 -38.5%
FY24 Q1 -40.0%
FY24 Q2 -32.2%
FY24 Q3 -23.5%
FY24 Q4 -12.2%
FY25 Q1 -6.8%
FY25 Q2 -7.5%
FY25 Q3 -4.2%
FY25 Q4 -14.4%
FY26 Q1 -17.6%
FY26 Q2 -12.0%
Operating margin (TTM) Battalion OIL Corp
-10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 17.1% Operating margin (TTM), FY23 Q4: 8.0% Operating margin (TTM), FY24 Q1: 3.2% Operating margin (TTM), FY24 Q2: 5.6% Operating margin (TTM), FY24 Q3: 2.9% Operating margin (TTM), FY24 Q4: -6.1% Operating margin (TTM), FY25 Q1: -4.4% Operating margin (TTM), FY25 Q2: -7.4% Operating margin (TTM), FY25 Q3: -7.6% Operating margin (TTM), FY25 Q4: -4.0% Operating margin (TTM), FY26 Q1: -7.7% Operating margin (TTM), FY26 Q2: -3.2% -3.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 17.1%
FY23 Q4 8.0%
FY24 Q1 3.2%
FY24 Q2 5.6%
FY24 Q3 2.9%
FY24 Q4 -6.1%
FY25 Q1 -4.4%
FY25 Q2 -7.4%
FY25 Q3 -7.6%
FY25 Q4 -4.0%
FY26 Q1 -7.7%
FY26 Q2 -3.2%
FCF margin (TTM) Battalion OIL Corp
-300% -200% -100% 0% 100% FY14 Q2 FY15 Q1 FY18 Q2 FY19 Q3 FCF margin (TTM), FY14 Q2: 48.9% FCF margin (TTM), FY14 Q3: 52.1% FCF margin (TTM), FY14 Q4: 54.4% FCF margin (TTM), FY15 Q1: 56.6% FCF margin (TTM), FY17 Q4: -239.2% FCF margin (TTM), FY18 Q1: -132.8% FCF margin (TTM), FY18 Q2: -180.0% FCF margin (TTM), FY18 Q3: -201.7% FCF margin (TTM), FY18 Q4: -117.7% FCF margin (TTM), FY19 Q1: -70.4% FCF margin (TTM), FY19 Q2: -3.1% FCF margin (TTM), FY19 Q3: -2.7% -2.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY14 Q2 48.9%
FY14 Q3 52.1%
FY14 Q4 54.4%
FY15 Q1 56.6%
FY17 Q4 -239.2%
FY18 Q1 -132.8%
FY18 Q2 -180.0%
FY18 Q3 -201.7%
FY18 Q4 -117.7%
FY19 Q1 -70.4%
FY19 Q2 -3.1%
FY19 Q3 -2.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2017 Dec 2017 2018 Dec 2018 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 87 111 105 248 1,000 1,148 550 378 227 148 285 359 221 194 166 163
EBITDA −24 52 41 — — — — — — — — — — — — —
Operating income −56 25 20 −30 −1,291 −58 −2,745 715 92 −262 103 152 18 −12 −7 −5
Net income −58 2 −1 −54 −1,223 316 −1,923 536 46 −230 −28 19 −3 −32 12 −40
Diluted EPS −$45.20 $1.80 −$1.00 −$18.20 −$162.50 $29.30 −$186.60 $36.50 $2.90 −$14.18 −$1.74 $1.12 −$0.92 −$3.90 −$2.24 −$1.67
Growth (year on year)
Revenue — +27.6% −5.9% +137.5% +302.5% +14.9% −52.1% −31.3% −40.0% −34.6% +92.3% +25.9% −38.5% −12.2% −14.4% −12.0%
EBITDA — — −20.5% — — — — — — — — — — — — —
Operating income — — −19.3% −250.1% — — — — −87.1% −384.2% — +47.2% −88.4% −166.8% — —
Net income — — −158.0% — — — −708.5% — −91.4% −599.8% — — −116.4% — — −489.5%
Diluted EPS — — −155.6% — — — −736.9% — −92.1% −589.0% — — −182.1% — — −368.5%
Margins
EBITDA margin −27.7% 46.6% 39.3% — — — — — — — — — — — — —
Operating margin −64.1% 22.1% 18.9% −12.0% −129.2% −5.1% −498.7% 189.3% 40.7% −176.6% 36.2% 42.4% 8.0% −6.1% −4.0% −3.2%
Net margin −67.0% 2.2% −1.3% −21.7% −122.3% 27.5% −349.4% 141.7% 20.3% −154.9% −9.9% 5.2% −1.4% −16.4% 7.2% −24.5%
Free-cash-flow margin 36.5% 33.3% 27.9% 18.5% 35.5% 54.4% — −239.2% −117.7% 33.8% — — — 18.2% 23.5% 16.6%
Cash flow
Cash from operations 32 38 30 84 494 668 467 115 67 50 69 79 18 35 39 27
Capital spending 1 1 1 38 139 43 — 1,019 334 0 — — — 0 0 0
Free cash flow 32 37 29 46 355 625 — −904 −267 50 — — — 35 39 27
Stock-based pay 2 3 4 5 17 19 15 37 15 3 2 2 −1 0 −0 —
Free cash flow after stock pay 30 34 26 41 338 606 — −941 −282 48 — — — 35 39 —
Balance sheet
Cash 0 0 0 3 3 44 8 424 47 4 47 33 58 20 28 83
Total debt 0 197 202 2,184 3,190 3,747 2,924 409 613 160 200 235 200 162 208 163
Net debt (negative = net cash) −0 197 202 2,181 3,187 3,703 2,916 −15 566 156 153 202 143 142 180 79
Diluted shares 1m 1m 1m 8m 8m 11m 11m 13m 16m 16m 16m 17m 16m 16m 16m 24m
Returned to shareholders
Buybacks 0 1 0 2 — — — — — — — — — — — —
Total returned 0 1 0 2 — — — — — — — — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · June 30, 2026
What it owns · $433m
Short-term assets $107mLonger-term assets $325m
What it owes, and who funded it · $252m
Short-term liabilities $49mShareholders' equity $203m
  • Short-term assets cover short-term liabilities $107m of assets due within a year against $49m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $83m of cash against $158m of debt.
  • Debt below 40% of shareholders' equity Debt is 78% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 285% to 78% over five years.
  • A year's operating cash flow covers at least 20% of debt $27m of operating cash flow against $158m of debt.
  • Operating profit covers interest at least five times over Operating income of −$5m against $25m of interest.

From Battalion OIL Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+45.1%
year over year
Days sales outstanding
32 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas exploration & production
Last 12 months unless stated BATL PNRG SD DMLP AMPY VTS Median
Revenue, last 12 months $163m $179m $180m $192m $213m $300m $1.4bn
Revenue growth, last 12 months −12.0% −19.4% 23.2% 13.9% −23.7% 10.6% 10.6%
Revenue growth, 3-year average −18.0% 5.1% −4.0% 7.7% −17.3% 10.0% 1.4%
Revenue growth, latest quarter 12.4% 1.2% 48.0% 73.1% −22.9% 23.0% 31.5%
Gross margin — 96.8% 98.2% — 95.2% — 75.2%
Operating margin −3.2% 26.6% 41.1% — 19.9% 12.0% 21.1%
Operating margin, 3-year average −1.6% 20.4% 36.3% — 15.8% 14.9% 16.5%
Net margin −24.5% 13.9% 46.1% 45.5% 10.6% −15.4% 10.1%
Cash from operations / revenue 16.6% 55.0% 66.2% 81.5% 3.4% 42.1% 42.4%
Free-cash-flow margin −2.7% 27.3% 23.6% 81.5% 3.2% 33.7% 19.3%
Free-cash-flow margin, 3-year average −49.3% 9.9% 37.2% 81.3% 15.1% 46.2% 19.1%
Stock pay / revenue −0.1% — 1.6% — 3.6% 2.8% 1.5%
Change in share count 45.1% −3.0% −0.2% 5.6% 2.1% 11.5% 0.4%

Median of all 57 companies we cover in oil & gas exploration & production. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 oil & gas exploration & production companies
Measure Company Peer median Rank
Revenue growth Growth -12.0% 10.6% 47 of 57
Change in growth rate Growth +5.7pp +4.9pp 26 of 57
Operating margin Profitability -3.2% 19.9% 33 of 42
Net margin Profitability -24.5% 10.1% 48 of 57
Stock pay as % of revenue Cash generation -0.1% 1.2% 1 of 47
Long-term debt as % of assets Balance sheet 36.1% 17.6% 38 of 43
Change in share count Balance sheet 45.1% 0.4% 47 of 48
Days sales outstanding Balance sheet 32 days 41 days 12 of 42

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Oil $143M 86.7% ▼ 18.1%
Natural Gas Liquids Reserves $18.3M 11.1% ▼ 11.9%
Natural Gas $3.7M 2.2% —

From Battalion OIL Corp's 10-K filed March 23, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$8.7M
Institutions reporting
40
Shares held vs prior quarter
▼ 16.7%
Positions opened / closed
10 / 9

Top buyers and sellers, Q2 2026: 22 institutions bought and 12 sold ; the biggest buyer was Blackrock, Inc (+559K shares) and the biggest seller Alyeska Investment Group, L.P (−1.8M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Oaktree Capital Management LP $3.9M 3.0M 45.1% 0.0%
Luminus Management LLC $1.4M 1.1M 16.0% ▼ 46.7%
Blackrock, Inc. $977,323 746K 11.2% ▲ 299.7%
Vanguard Capital Management LLC $915,368 699K 10.5% ▲ 124.0%
UBS Group AG $420,122 321K 4.8% ▲ 641308.0%
Utah Retirement Systems $248,693 190K 2.8% 0.0%
Geode Capital Management, LLC $153,669 117K 1.8% ▲ 29.6%
Hightower Advisors, LLC $131,086 100K 1.5% New
Vanguard Fiduciary Trust Co $97,203 74K 1.1% ▲ 93.0%
Virtu Financial LLC $70,000 54K 0.8% New
Osaic Holdings, Inc. $47,442 36K 0.5% ▲ 235.9%
State Street Corp $44,417 34K 0.5% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Battalion OIL Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $109,864 2 trades by 2 insiders, last 12 months Insider sales History → $31.3M 12 trades by 6 insiders · 0% under pre-set plans
Net ▼ $31.2M net selling
Insider Date Trade Shares Price Value
Hinds Gregory S. Director August 27, 2026 Buy 14,400 $1.31 $18,864
Mayer Walter R SVP, General Counsel August 26, 2026 Sell 6,479 $1.30 $8,423
Rogers William D Director August 26, 2026 Buy 70,000 $1.30 $91,000
Luminus Management Llc Director March 31, 2026 Sell 872,586 $3.85 $3.4M
Luminus Management Llc Director March 31, 2026 Sell 336,791 $4.33 $1.5M
Luminus Energy Partners Master Fund, Ltd. 10% owner March 31, 2026 Sell 336,791 $4.33 $1.5M
Luminus Energy Partners Master Fund, Ltd. 10% owner March 31, 2026 Sell 872,586 $3.85 $3.4M
Luminus Management Llc Director March 30, 2026 Sell 681,105 $5.59 $3.8M
Luminus Energy Partners Master Fund, Ltd. 10% owner March 30, 2026 Sell 681,105 $5.59 $3.8M
Mayer Walter R SVP, General Counsel March 27, 2026 Sell 4,777 $6.00 $28,662
Martin Charles E VP, Controller March 25, 2026 Sell 7,623 $5.25 $40,021
Rohling Daniel P Chief Operating Officer March 25, 2026 Sell 14,421 $5.99 $86,382

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 12, 2026 estimated from the company's past filing pattern, not announced

  • August 12, 2026
  • May 13, 2026
  • March 23, 2026
  • November 13, 2025
  • August 14, 2025
  • May 14, 2025

Recent SEC filings

Data status

When each part of this page on Battalion OIL Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Battalion OIL Corp in brief

What does Battalion OIL Corp do?
Battalion OIL Corp is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
What is Battalion OIL Corp's stock ticker?
Battalion OIL Corp trades under the ticker BATL on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Battalion OIL Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Battalion OIL Corp reported revenue of $163M, 12.0% lower than a year earlier, according to its SEC filings.
Who are Battalion OIL Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Oaktree Capital Management LP, Luminus Management LLC and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Battalion OIL Corp's market cap?
On November 2, 2026, Battalion OIL Corp's market capitalisation was about $19.4M and net debt of $79.4M. Market figures come from third-party market data and may be delayed.
How much debt does Battalion OIL Corp have?
Battalion OIL Corp's debt-to-equity ratio is 77.9%, from its latest balance sheet (285.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Battalion OIL Corp's competitors?
In our Oil & Gas Exploration & Production peer group, the companies closest to Battalion OIL Corp are Primeenergy Resources Corp, Sandridge Energy Inc, Dorchester Minerals, L.p., Amplify Energy Corp. and Vitesse Energy, Inc. The side-by-side comparison below sets their revenue, margins and growth against Battalion OIL Corp's.
Are insiders buying or selling Battalion OIL Corp stock?
Over the last 12 months, Battalion OIL Corp's directors and officers reported 2 open-market purchases and 12 sales on Form 4. The insider trading page charts every trade.
When is Battalion OIL Corp's next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Battalion OIL Corp announces its own schedule.