557,786 Shares in BKV Corporation $BKV Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon purchased 557,786 BKV shares worth approximately $15.3 million in the second quarter, taking a 0.51% stake. Other institutional investors, including Cooper Creek Partners and Geode Capital, also increased their holdings.
• BKV reported quarterly earnings of $0.46 per share, exceeding the $0.25 analyst consensus, while revenue of $465.5 million surpassed expectations of $355.3 million.
• Analysts maintain a generally positive outlook, with eight Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $34.25, compared with the stock’s reported price of $24.11.

Bank of New York Mellon Corp bought a new position in BKV Corporation (NYSE:BKV - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 557,786 shares of the company's stock, valued at approximately $15,261,000. Bank of New York Mellon Corp owned 0.51% of BKV as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cooper Creek Partners Management LLC grew its stake in BKV by 24.7% during the first quarter. Cooper Creek Partners Management LLC now owns 2,103,230 shares of the company's stock valued at $59,984,000 after acquiring an additional 416,281 shares in the last quarter. Geode Capital Management LLC increased its holdings in BKV by 40.4% during the 4th quarter. Geode Capital Management LLC now owns 556,539 shares of the company's stock worth $15,114,000 after acquiring an additional 160,171 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its stake in BKV by 34.3% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 5,701 shares of the company's stock worth $155,000 after purchasing an additional 1,455 shares in the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new stake in BKV in the 4th quarter worth approximately $52,000.

BKV Price Performance

Shares of BKV stock opened at $24.11 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $2.64 billion, a PE ratio of 8.80 and a beta of 1.09. The business's 50-day moving average price is $25.49 and its 200-day moving average price is $27.38. BKV Corporation has a 12 month low of $20.08 and a 12 month high of $32.81.

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 company had revenue of $465.54 million for the quarter, compared to analysts' expectations of $355.25 million. BKV had a return on equity of 6.67% and a net margin of 17.73%. Sell-side analysts forecast that BKV Corporation will post 1.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on BKV shares. Barclays raised their price target on shares of BKV from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Citigroup decreased their price target on shares of BKV from $36.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, June 11th. Jefferies Financial Group reiterated a "buy" rating and issued a $34.00 price objective on shares of BKV in a research report on Friday, July 10th. Wall Street Zen raised BKV from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded BKV from a "strong sell" rating to a "hold" rating in a research report on Monday, June 15th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, BKV has a consensus rating of "Moderate Buy" and an average price target of $34.25.

Insiders Place Their Bets

In other news, SVP Javier Hinojosa sold 12,377 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $25.73, for a total value of $318,460.21. Following the completion of the sale, the senior vice president directly owned 84,276 shares in the company, valued at approximately $2,168,421.48. The trade was a 12.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Tameron sold 4,321 shares of the company's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $26.56, for a total transaction of $114,765.76. Following the completion of the sale, the chief financial officer directly owned 58,524 shares of the company's stock, valued at $1,554,397.44. This trade represents a 6.88% decrease in their position. 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. Over the last ninety days, insiders have sold 28,198 shares of company stock valued at $733,271. 2.51% of the stock is currently owned by corporate insiders.

About BKV

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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