Quantbot Technologies LP Purchases New Position in BKV Corporation $BKV

Quantbot Technologies LP bought a new position in shares of BKV Corporation (NYSE:BKV) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 76,444 shares of the company’s stock, valued at approximately $1,605,000. Quantbot Technologies LP owned 0.09% of BKV as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC purchased a new stake in BKV during the fourth quarter worth $7,728,000. Driehaus Capital Management LLC purchased a new stake in BKV during the fourth quarter worth $9,553,000. California State Teachers Retirement System purchased a new stake in BKV during the fourth quarter worth $26,000. Finally, Bank of New York Mellon Corp lifted its holdings in BKV by 21.2% during the first quarter. Bank of New York Mellon Corp now owns 35,453 shares of the company’s stock worth $745,000 after buying an additional 6,209 shares during the period.

BKV Price Performance

Shares of BKV opened at $22.80 on Friday. The business’s 50-day moving average is $21.99 and its two-hundred day moving average is $21.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.52 and a current ratio of 0.56. BKV Corporation has a fifty-two week low of $15.00 and a fifty-two week high of $26.78. The company has a market capitalization of $1.93 billion and a P/E ratio of -114.00.

BKV (NYSE:BKV) last posted its earnings results on Tuesday, August 12th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.24. BKV had a negative net margin of 2.69% and a positive return on equity of 3.21%. The business had revenue of $322.04 million for the quarter, compared to analyst estimates of $224.05 million. Research analysts predict that BKV Corporation will post -1.82 earnings per share for the current year.

Insider Activity

In other news, insider Ethan Ngo sold 64,998 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $23.00, for a total transaction of $1,494,954.00. Following the sale, the insider directly owned 112,675 shares of the company’s stock, valued at $2,591,525. This represents a 36.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lindsay B. Larrick sold 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $21.62, for a total transaction of $216,200.00. Following the sale, the insider directly owned 200,528 shares in the company, valued at approximately $4,335,415.36. The trade was a 4.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,098 shares of company stock worth $2,161,324. Corporate insiders own 4.11% of the company’s stock.

Analyst Upgrades and Downgrades

BKV has been the topic of a number of recent analyst reports. Evercore ISI upped their price target on BKV from $20.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Barclays upped their target price on BKV from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $28.25.

BKV Profile

BKV Corporation engages in the acquisition, operation, and development of natural gas and NGL properties. It is also involved in the gathering, processing, and transportation of natural gas. The company was founded in 2015 and is based in Denver, Colorado with additional offices in Tunkhannock, Pennsylvania and Fort Worth, Texas.