Bank of New York Mellon Corp Has $15.54 Million Position in BKV Corporation $BKV

Key Points

• Bank of New York Mellon increased its BKV stake by 13% in the first quarter, reaching 544,932 shares valued at approximately $15.54 million, or 0.50% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and two Hold ratings, although several firms lowered price targets. The consensus rating is Moderate Buy with a target price of $33.88.
• BKV shares opened at $24.06, while the company’s latest quarterly earnings of $0.22 per share missed estimates of $0.36 despite revenue exceeding expectations at $432.85 million.

Bank of New York Mellon Corp grew its stake in shares of BKV Corporation (NYSE:BKV - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 544,932 shares of the company's stock after acquiring an additional 62,485 shares during the period. Bank of New York Mellon Corp owned 0.50% of BKV worth $15,541,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of BKV by 40.4% during the fourth 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 in the last quarter. Cooper Creek Partners Management LLC grew its stake in BKV by 35.6% in the third quarter. Cooper Creek Partners Management LLC now owns 461,657 shares of the company's stock valued at $10,678,000 after purchasing an additional 121,082 shares in the last quarter. SG Americas Securities LLC purchased a new position in BKV in the fourth quarter valued at about $1,509,000. Police & Firemen s Retirement System of New Jersey increased its position 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 during the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in BKV in the 4th quarter worth about $52,000.

Analysts Set New Price Targets

BKV has been the subject of several recent research reports. Truist Financial lowered their price target on BKV from $37.00 to $34.00 and set a "buy" rating for the company in a research note on Friday, July 10th. Citigroup cut their price objective on shares of BKV from $36.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, June 11th. 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. Zacks Research raised shares of BKV from a "strong sell" rating to a "hold" rating in a research report on Monday, June 15th. Finally, Wall Street Zen lowered shares of BKV from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 16th. Eight investment 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.88.

Insider Activity at BKV

In related news, insider Eric S. Jacobsen sold 25,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $26.89, for a total value of $672,250.00. Following the completion of the sale, the insider owned 227,843 shares in the company, valued at approximately $6,126,698.27. This trade represents a 9.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.51% of the company's stock.

BKV Trading Up 3.2%

Shares of BKV stock opened at $24.06 on Friday. BKV Corporation has a 1 year low of $19.56 and a 1 year high of $32.81. The firm's fifty day simple moving average is $25.93 and its 200 day simple moving average is $27.87. The firm has a market capitalization of $2.63 billion, a P/E ratio of 7.29 and a beta of 1.03. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.47.

BKV (NYSE:BKV - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.14). The company had revenue of $432.85 million during the quarter, compared to the consensus estimate of $337.63 million. BKV had a net margin of 21.71% and a return on equity of 6.43%. As a group, sell-side analysts predict that BKV Corporation will post 1.48 EPS for the current year.

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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