Castleark Management LLC purchased a new stake in BKV Corporation (NYSE:BKV – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 32,650 shares of the company’s stock, valued at approximately $893,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. SIR Capital Management L.P. bought a new stake in shares of BKV during the 2nd quarter worth approximately $1,135,000. Legal & General Group Plc bought a new stake in BKV during the 2nd quarter worth approximately $490,000. The Manufacturers Life Insurance Company bought a new position in BKV during the 2nd quarter worth $479,000. PEAK6 LLC acquired a new position in shares of BKV in the second quarter worth approximately $270,000. Finally, William Blair Investment Management LLC bought a new stake in shares of BKV in the 2nd quarter valued at $32,689,000.
BKV Stock Performance
NYSE BKV opened at $24.29 on Thursday. BKV Corporation has a 52-week low of $20.08 and a 52-week high of $32.81. The company has a 50-day simple moving average of $25.53 and a 200 day simple moving average of $27.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.10 and a current ratio of 1.15. The company has a market capitalization of $2.66 billion, a PE ratio of 8.86 and a beta of 1.08.
Analyst Ratings Changes
Several brokerages recently commented on BKV. Weiss Ratings restated a “hold (c+)” rating on shares of BKV in a research report on Monday. Truist Financial lowered their target price on shares of BKV from $34.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Susquehanna dropped their price objective on BKV from $37.00 to $35.00 and set a “positive” rating on the stock in a research note on Tuesday, July 21st. Barclays lifted their price objective on shares of BKV from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $34.00 target price on shares of BKV in a research note on Friday, July 10th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.25.
Read Our Latest Analysis on BKV
Insider Transactions at BKV
In other news, CFO David Tameron sold 4,321 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.56, for a total transaction of $114,765.76. Following the transaction, the chief financial officer owned 58,524 shares of the company’s stock, valued at $1,554,397.44. This represents a 6.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Jacobsen sold 25,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $26.89, for a total value of $672,250.00. Following the transaction, the insider owned 227,843 shares of the company’s stock, valued at $6,126,698.27. The trade was a 9.89% 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. Insiders have sold a total of 53,198 shares of company stock worth $1,405,521 in the last ninety days. Company insiders own 2.51% of the company’s stock.
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. BKV Corporation, LLC operates as a subsidiary of Banpu North America Corporation.
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