Moore Capital Management LP Acquires Shares of 73,126 BKV Corporation $BKV

Moore Capital Management LP bought a new position in shares of BKV Corporation (NYSE:BKV) in the second quarter, Holdings Channel.com reports. The fund bought 73,126 shares of the company’s stock, valued at approximately $2,001,000.

Other hedge funds have also modified their holdings of the company. SBI Okasan Asset Management Co.Ltd. purchased a new stake in BKV during the 4th quarter valued at about $52,000. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of BKV by 34.3% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 5,701 shares of the company’s stock valued at $155,000 after purchasing an additional 1,455 shares during the last quarter. PEAK6 LLC purchased a new position in BKV during the second quarter worth approximately $270,000. Jupiter Topco LLC purchased a new position in BKV during the second quarter worth approximately $446,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of BKV in the 2nd quarter worth $479,000.

Insiders Place Their Bets

In other 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 value of $261,600.00. Following the completion of the transaction, the insider directly owned 83,925 shares of the company’s stock, valued at $2,195,478. The trade was a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $26.56, for a total transaction of $114,765.76. Following the sale, the chief financial officer owned 58,524 shares in the company, valued at approximately $1,554,397.44. This trade represents a 6.88% 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 90 days, insiders sold 28,198 shares of company stock valued at $733,271. Corporate insiders own 2.51% of the company’s stock.

BKV Stock Down 0.5%

Shares of NYSE:BKV opened at $24.11 on Tuesday. The stock has a market cap of $2.64 billion, a P/E ratio of 8.80 and a beta of 1.09. 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 fifty day moving average price of $25.49 and a 200 day moving average price of $27.38. BKV Corporation has a 1-year low of $20.08 and a 1-year high of $32.81.

BKV (NYSE:BKV) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.21. The business had revenue of $465.54 million for 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%. Sell-side analysts predict that BKV Corporation will post 1.77 EPS for the current year.

Analyst Upgrades and Downgrades

BKV has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $34.00 price objective on shares of BKV in a report on Friday, July 10th. Wall Street Zen upgraded BKV from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Truist Financial cut their target price on BKV from $34.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Citigroup reduced 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. Finally, Susquehanna decreased their price target on BKV from $37.00 to $35.00 and set a “positive” rating on the stock in a research note on Tuesday, July 21st. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.25.

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.