Empowered Funds LLC purchased a new position in BKV Corporation (NYSE:BKV – Free Report) in the second quarter, Holdings Channel reports. The fund purchased 49,753 shares of the company’s stock, valued at approximately $1,361,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of BKV. SBI Okasan Asset Management Co.Ltd. bought a new position in BKV during the 4th quarter worth approximately $52,000. Police & Firemen s Retirement System of New Jersey raised its position in shares of BKV by 34.3% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 5,701 shares of the company’s stock valued at $155,000 after acquiring an additional 1,455 shares in the last quarter. PEAK6 LLC acquired a new stake in shares of BKV during the 2nd quarter valued at approximately $270,000. Jupiter Topco LLC bought a new position in BKV during the second quarter worth $446,000. Finally, The Manufacturers Life Insurance Company bought a new position in BKV during the second quarter worth $479,000.
BKV Stock Down 1.0%
BKV stock opened at $26.04 on Friday. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 9.50 and a beta of 1.06. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.45. BKV Corporation has a 52 week low of $20.08 and a 52 week high of $32.81. The company’s 50-day moving average price is $25.47 and its two-hundred day moving average price is $27.26.
Insiders Place Their Bets
In related news, CFO David Tameron sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $25.63, for a total transaction of $38,445.00. Following the completion of the sale, the chief financial officer directly owned 57,024 shares in the company, valued at approximately $1,461,525.12. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay B. Larrick sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $26.16, for a total value of $261,600.00. Following the completion of the sale, the insider directly owned 83,925 shares of the company’s stock, valued at approximately $2,195,478. The trade was a 10.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 28,198 shares of company stock worth $733,271. Company insiders own 2.51% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on BKV. Zacks Research upgraded shares of BKV from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Wall Street Zen downgraded shares of BKV from a “sell” rating to a “strong sell” rating in a research report on Saturday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $34.00 price target on shares of BKV in a report on Friday, July 10th. Truist Financial dropped their price objective on shares of BKV from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Finally, Susquehanna decreased their target price on BKV from $37.00 to $35.00 and set a “positive” rating for the company in a research note on Tuesday, July 21st. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, BKV currently has an average rating of “Moderate Buy” and an average price target of $34.25.
Check Out Our Latest Analysis on BKV
BKV Company 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. BKV Corporation, LLC operates as a subsidiary of Banpu North America Corporation.
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