BlackRock Inc. Makes New $74.24 Million Investment in BKV Corporation $BKV

Key Points

• BlackRock acquired 2.71 million BKV shares worth approximately $74.24 million in the second quarter, giving it a 2.48% stake in BKV Corporation.
• Analysts remain broadly positive, with eight Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $34.25.
• BKV reported quarterly earnings of $0.46 per share, exceeding the $0.25 consensus estimate, while revenue of $465.54 million also surpassed expectations.

BlackRock Inc. acquired a new position in BKV Corporation (NYSE:BKV - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,713,477 shares of the company's stock, valued at approximately $74,241,000. BlackRock Inc. owned approximately 2.48% of BKV at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of BKV. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of BKV during the 4th quarter valued at $52,000. Police & Firemen s Retirement System of New Jersey increased 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 buying an additional 1,455 shares in the last quarter. IMC Chicago LLC raised its holdings in BKV by 100.0% during the second quarter. IMC Chicago LLC now owns 24,205 shares of the company's stock valued at $662,000 after acquiring an additional 12,105 shares during the period. Deutsche Bank AG purchased a new position in shares of BKV in the second quarter valued at about $909,000. Finally, Cooper Creek Partners Management LLC lifted its position in shares of 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 acquiring an additional 121,082 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BKV shares. Barclays lifted their target price on BKV from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded BKV from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 8th. Jefferies Financial Group reaffirmed a "buy" rating and set a $34.00 price objective on shares of BKV in a report on Friday, July 10th. Truist Financial reduced their price objective on shares of BKV from $34.00 to $33.00 and set a "buy" rating on the stock in a research report on Monday, August 10th. Finally, Susquehanna lowered their target price on shares of BKV from $37.00 to $35.00 and set a "positive" rating on the stock in a report on Tuesday, July 21st. 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 data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.25.

BKV Stock Performance

Shares of NYSE:BKV opened at $24.06 on Monday. BKV Corporation has a one year low of $20.08 and a one year high of $32.81. The firm has a market cap of $2.63 billion, a PE ratio of 8.78 and a beta of 1.09. The firm's 50 day simple moving average is $25.52 and its 200-day simple moving average is $27.42. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.10 and a current ratio of 1.15.

BKV (NYSE:BKV - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.21. The company had revenue of $465.54 million during 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, equities analysts predict that BKV Corporation will post 1.77 EPS for the current year.

Insider Transactions at BKV

In related news, insider Lindsay B. Larrick sold 10,000 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $26.16, for a total transaction of $261,600.00. Following the transaction, the insider directly owned 83,925 shares in the company, valued at $2,195,478. The trade was a 10.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 dated Thursday, August 20th. The shares were sold at an average price of $26.56, for a total value of $114,765.76. Following the transaction, the chief financial officer directly owned 58,524 shares in the company, valued at $1,554,397.44. This represents a 6.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 28,198 shares of company stock valued at $733,271. Corporate insiders own 2.51% of the company's stock.

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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