Squarepoint Ops LLC boosted its position in shares of BKV Corporation (NYSE:BKV – Free Report) by 87.7% in the second quarter, HoldingsChannel.com reports. The fund owned 301,461 shares of the company’s stock after purchasing an additional 140,835 shares during the period. Squarepoint Ops LLC’s holdings in BKV were worth $8,248,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of BKV. Bank of New York Mellon Corp acquired a new stake in shares of BKV during the second quarter worth about $15,261,000. Value Aligned Research Advisors LLC grew its holdings in shares of BKV by 110.5% in the second quarter. Value Aligned Research Advisors LLC now owns 679,899 shares of the company’s stock valued at $18,602,000 after purchasing an additional 356,848 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in BKV during the 2nd quarter worth approximately $32,689,000. BlackRock Inc. purchased a new stake in BKV during the 2nd quarter worth approximately $74,241,000. Finally, SIR Capital Management L.P. acquired a new stake in BKV during the 2nd quarter worth approximately $1,135,000.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on BKV shares. Citigroup dropped their price target on shares of BKV from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, June 11th. Wall Street Zen cut BKV from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 5th. Jefferies Financial Group reissued a “buy” rating and set a $34.00 target price on shares of BKV in a research note on Friday, July 10th. Susquehanna cut their price target on BKV from $37.00 to $35.00 and set a “positive” rating on the stock in a report on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BKV in a research report on Monday, August 24th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.25.
Insider Activity at BKV
In related news, CFO David Tameron sold 4,321 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.56, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Larrick sold 10,000 shares of the firm’s stock in a transaction 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 owned 83,925 shares in the company, valued at approximately $2,195,478. This represents a 10.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,198 shares of company stock valued at $733,271 over the last quarter. 2.51% of the stock is owned by insiders.
BKV Trading Up 3.3%
NYSE BKV opened at $24.89 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.15 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 stock has a market capitalization of $2.72 billion, a PE ratio of 9.08 and a beta of 1.06. The firm has a 50 day moving average of $25.35 and a two-hundred day moving average of $27.09.
BKV (NYSE:BKV – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.21. The business had revenue of $465.54 million for the quarter, compared to analyst estimates of $355.25 million. BKV had a net margin of 17.73% and a return on equity of 6.67%. As a group, research analysts expect that BKV Corporation will post 1.77 EPS for the current fiscal year.
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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