Geode Capital Management LLC Acquires Shares of 324,910 BKV Corporation (NYSE:BKV)

Geode Capital Management LLC bought a new stake in BKV Corporation (NYSE:BKV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 324,910 shares of the company's stock, valued at approximately $7,728,000. Geode Capital Management LLC owned about 0.38% of BKV as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new stake in BKV in the fourth quarter valued at approximately $695,000. Corebridge Financial Inc. acquired a new stake in shares of BKV in the fourth quarter valued at approximately $170,000. Finally, SG Americas Securities LLC bought a new stake in shares of BKV during the 4th quarter valued at $157,000.

Analysts Set New Price Targets

BKV has been the subject of several recent analyst reports. Barclays cut their target price on BKV from $30.00 to $28.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Truist Financial decreased their price target on shares of BKV from $31.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, March 17th. Finally, KeyCorp cut their price objective on shares of BKV from $27.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 4th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $27.75.

BKV Trading Down 2.2 %

BKV stock traded down $0.40 during trading on Wednesday, hitting $18.13. 152,026 shares of the company were exchanged, compared to its average volume of 466,524. BKV Corporation has a 52 week low of $15.00 and a 52 week high of $26.78. The business's 50 day moving average is $19.08 and its 200 day moving average is $21.08.

BKV (NYSE:BKV - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.11. The company had revenue of $119.78 million for the quarter, compared to analysts' expectations of $183.77 million. On average, sell-side analysts anticipate that BKV Corporation will post -1.82 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO David Tameron sold 5,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $20.03, for a total transaction of $100,150.00. Following the completion of the transaction, the chief financial officer now directly owns 47,779 shares in the company, valued at $957,013.37. The trade was a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lindsay B. Larrick sold 15,000 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $21.07, for a total value of $316,050.00. Following the completion of the sale, the insider now directly owns 245,528 shares in the company, valued at approximately $5,173,274.96. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,667 shares of company stock worth $851,490 over the last ninety days.

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.