Hallador Energy Co. (HNRG) Shares Up 4.8% Following Dividend Announcement
Hallador Energy Co. (NASDAQ:HNRG) shot up 4.8% during trading on Wednesday after the company announced a dividend. The stock traded as high as $8.50 and last traded at $8.44, with a volume of 213,687 shares trading hands. The stock had previously closed at $8.05.
The newly announced dividend which will be paid on Friday, November 18th. Investors of record on Monday, October 31st will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.16 annualized dividend and a yield of 1.99%. Hallador Energy’s dividend payout ratio is currently 27.12%.
Several brokerages recently commented on HNRG. Zacks Investment Research cut shares of Hallador Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 12th. FBR & Co reissued an “outperform” rating and issued a $8.00 price target (up previously from $7.00) on shares of Hallador Energy in a research note on Thursday, October 13th.
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The company has a 50-day moving average price of $7.43 and a 200-day moving average price of $5.47. The company has a market capitalization of $247.23 million, a price-to-earnings ratio of 14.1815 and a beta of 0.04.
In other news, insider Brent K. Bilsland sold 123,586 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $7.12, for a total transaction of $879,932.32. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 55.66% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Paloma Partners Management Co acquired a new position in shares of Hallador Energy during the second quarter valued at $232,000. Eagle Global Advisors LLC boosted its position in shares of Hallador Energy by 114.2% in the second quarter. Eagle Global Advisors LLC now owns 35,070 shares of the company’s stock valued at $162,000 after buying an additional 18,700 shares during the period. Menta Capital LLC boosted its position in shares of Hallador Energy by 0.3% in the second quarter. Menta Capital LLC now owns 96,610 shares of the company’s stock valued at $446,000 after buying an additional 283 shares during the period. Martingale Asset Management L P boosted its position in shares of Hallador Energy by 1.5% in the second quarter. Martingale Asset Management L P now owns 87,900 shares of the company’s stock valued at $407,000 after buying an additional 1,277 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Hallador Energy by 13.2% in the second quarter. HighTower Advisors LLC now owns 42,800 shares of the company’s stock valued at $198,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 51.74% of the company’s stock.
Hallador Energy Company Profile
Hallador Energy Company is an oil and gas exploration company focused on developing coal reserves in the Illinois Basin. The Company, through its subsidiary, Sunrise Coal, LLC, is engaged in coal mining in the state of Indiana serving the electric power generation industry. Its projects include Carlisle Mine, Ace in the Hole Mine, Oaktown 1 Mine, Oaktown 2 Mine and Bulldog Mine.
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