SIR Capital Management L.P. Purchases New Position in BKV Corporation $BKV

SIR Capital Management L.P. purchased a new position in BKV Corporation (NYSE:BKV) in the second quarter, Holdings Channel reports. The fund purchased 41,500 shares of the company’s stock, valued at approximately $1,135,000.

Other hedge funds also recently bought and sold shares of the company. SBI Okasan Asset Management Co.Ltd. acquired a new stake in BKV in the fourth quarter valued at approximately $52,000. Police & Firemen s Retirement System of New Jersey raised its stake in shares of BKV by 34.3% during 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 during the period. PEAK6 LLC acquired a new position in shares of BKV during the 2nd quarter worth approximately $270,000. The Manufacturers Life Insurance Company acquired a new position in shares of BKV during the 2nd quarter worth approximately $479,000. Finally, Legal & General Group Plc purchased a new position in shares of BKV during the 2nd quarter valued at approximately $490,000.

BKV Stock Performance

NYSE BKV opened at $24.14 on Tuesday. The company has a market cap of $2.64 billion, a PE ratio of 8.81 and a beta of 1.09. The stock’s 50 day simple moving average is $25.53 and its 200-day simple moving average is $27.58. BKV Corporation has a 1-year low of $20.08 and a 1-year high of $32.81. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.15 and a quick ratio of 1.10.

BKV (NYSE:BKV) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.25 by $0.21. BKV had a return on equity of 6.67% and a net margin of 17.73%.The firm had revenue of $465.54 million during the quarter, compared to analysts’ expectations of $355.25 million. As a group, equities research analysts anticipate that BKV Corporation will post 1.77 EPS for the current fiscal year.

Insider Transactions at BKV

In other news, insider Lindsay B. Larrick sold 10,000 shares of the stock in a transaction dated 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 sale, the insider directly owned 83,925 shares in the company, valued at $2,195,478. This represents a 10.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $26.56, for a total transaction of $114,765.76. Following the completion of the transaction, the chief financial officer directly owned 58,524 shares in the company, valued at approximately $1,554,397.44. This represents a 6.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 53,198 shares of company stock worth $1,405,521. Company insiders own 2.51% of the company’s stock.

Analyst Ratings Changes

BKV has been the topic of a number of research analyst reports. Zacks Research raised shares of BKV from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Barclays upped their price objective on shares of BKV from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Truist Financial decreased their price objective on shares of BKV from $34.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Citigroup dropped their target price 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. Finally, Weiss Ratings cut shares of BKV from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Eight investment analysts have rated the stock with a Buy rating and two have given 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 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.