William Blair Investment Management LLC Makes New $32.69 Million Investment in BKV Corporation $BKV

Key Points

• William Blair Investment Management acquired 1.19 million BKV shares worth approximately $32.7 million, giving it a 1.09% stake. Other institutions, including BlackRock and Bank of New York Mellon, also initiated positions during the second quarter.
• BKV shares fell 7.1% to $24.24, below their 50-day and 200-day moving averages. Despite the decline, the company exceeded quarterly earnings and revenue expectations, reporting EPS of $0.46 versus the $0.25 consensus and revenue of $465.5 million.
• Analysts maintain a generally positive outlook, with eight Buy ratings and two Holds and a consensus price target of $34.25. However, insiders sold 53,198 shares worth about $1.4 million during the last quarter.

William Blair Investment Management LLC purchased a new stake in BKV Corporation (NYSE:BKV - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,194,790 shares of the company's stock, valued at approximately $32,689,000. William Blair Investment Management LLC owned approximately 1.09% of BKV at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Oxbow Advisors LLC acquired a new position in shares of BKV during the second quarter valued at about $3,701,000. BlackRock Inc. acquired a new stake in shares of BKV in the 2nd quarter valued at about $74,241,000. Deutsche Bank AG acquired a new stake in shares of BKV in the 2nd quarter valued at about $909,000. IMC Chicago LLC increased its position in BKV by 100.0% in the 2nd quarter. IMC Chicago LLC now owns 24,205 shares of the company's stock valued at $662,000 after buying an additional 12,105 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in BKV in the 2nd quarter valued at about $15,261,000.

BKV Trading Down 7.1%

NYSE:BKV opened at $24.24 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.15 and a quick ratio of 1.10. The firm has a 50-day moving average of $25.54 and a 200-day moving average of $27.61. The company has a market cap of $2.65 billion, a PE ratio of 8.85 and a beta of 1.08. BKV Corporation has a one year low of $20.08 and a one year high of $32.81.

BKV (NYSE:BKV - Get Free Report) last posted its 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. BKV had a net margin of 17.73% and a return on equity of 6.67%. The company had revenue of $465.54 million for the quarter, compared to analyst estimates of $355.25 million. As a group, equities research analysts expect that BKV Corporation will post 1.77 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO David Tameron sold 1,500 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $25.63, for a total value of $38,445.00. Following the completion of the sale, the chief financial officer directly owned 57,024 shares of the company's stock, valued at $1,461,525.12. This represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 B. Larrick sold 10,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 83,925 shares in the company, valued at $2,195,478. This represents a 10.65% 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 quarter, insiders sold 53,198 shares of company stock valued at $1,405,521. Company insiders own 2.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $34.00 price target on shares of BKV in a research note on Friday, July 10th. Zacks Research raised BKV from a "strong sell" rating to a "hold" rating in a research note on Monday, June 15th. Truist Financial decreased their price objective on BKV from $34.00 to $33.00 and set a "buy" rating for the company in a report on Monday, August 10th. Wall Street Zen raised BKV from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Finally, Citigroup cut their target price on BKV from $36.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, June 11th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.25.

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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