Empowered Funds LLC Makes New $1.36 Million Investment in BKV Corporation $BKV

Key Points

• Empowered Funds LLC bought a new $1.36 million stake in BKV Corporation during the second quarter, purchasing 49,753 shares. Several other institutional investors also initiated or increased positions.
• Analysts remain broadly optimistic, with eight Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $34.25, above BKV’s recent $26.04 price.
• BKV exceeded quarterly expectations, reporting $0.46 in earnings per share versus the $0.25 consensus and $465.54 million in revenue versus estimates of $355.25 million. However, insiders sold 28,198 shares worth about $733,271 over the past three months.

Empowered Funds LLC purchased a new stake in BKV Corporation (NYSE:BKV - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 49,753 shares of the company's stock, valued at approximately $1,361,000.

Several other large investors have also recently bought and sold shares of the business. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of BKV during the 4th quarter valued at approximately $52,000. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of 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 acquiring an additional 1,455 shares during the period. PEAK6 LLC acquired a new stake in shares of BKV in the 2nd quarter worth approximately $270,000. Jupiter Topco LLC purchased a new position in BKV in the 2nd quarter valued at approximately $446,000. Finally, The Manufacturers Life Insurance Company acquired a new position in BKV during the second quarter worth $479,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BKV shares. Citigroup decreased their target price on BKV from $36.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, June 11th. Barclays lifted their price target on BKV from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 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. Zacks Research upgraded shares of BKV from a "strong sell" rating to a "hold" rating in a report on Monday, June 15th. Finally, Susquehanna cut their target price on shares of BKV from $37.00 to $35.00 and set a "positive" rating for the company in a research 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $34.25.

BKV Trading Down 1.0%

BKV stock opened at $26.04 on Friday. The stock has a market cap of $2.85 billion, a PE ratio of 9.50 and a beta of 1.06. The stock has a 50-day moving average price of $25.47 and a 200 day moving average price of $27.26. BKV Corporation has a 52 week low of $20.08 and a 52 week high of $32.81. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.45.

BKV (NYSE:BKV - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $355.25 million. BKV had a return on equity of 6.67% and a net margin of 17.73%. Equities research analysts predict that BKV Corporation will post 1.77 earnings per share for the current fiscal year.

Insider Transactions at BKV

In other BKV news, SVP Javier Hinojosa sold 12,377 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $25.73, for a total transaction of $318,460.21. Following the completion of the sale, the senior vice president owned 84,276 shares in the company, valued at $2,168,421.48. This trade represents a 12.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Tameron sold 4,321 shares of BKV stock in a transaction that occurred 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 sale, the chief financial officer 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. 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 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.