Castleark Management LLC Invests $893,000 in BKV Corporation $BKV

Castleark Management LLC bought a new stake in shares of BKV Corporation (NYSE:BKV) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 32,650 shares of the company’s stock, valued at approximately $893,000.

A number of other hedge funds have also recently bought and sold shares of BKV. BlackRock Inc. bought a new position in BKV during the second quarter valued at about $74,241,000. Cooper Creek Partners Management LLC lifted its position in BKV by 24.7% in the first quarter. Cooper Creek Partners Management LLC now owns 2,103,230 shares of the company’s stock worth $59,984,000 after purchasing an additional 416,281 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of BKV during the 2nd quarter valued at about $32,689,000. Bank of New York Mellon Corp bought a new position in shares of BKV during the 2nd quarter worth approximately $15,261,000. Finally, Geode Capital Management LLC increased its position in shares of BKV by 40.4% during the 4th quarter. Geode Capital Management LLC now owns 556,539 shares of the company’s stock worth $15,114,000 after purchasing an additional 160,171 shares in the last quarter.

Insider Transactions at BKV

In other news, SVP Javier Hinojosa sold 12,377 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $25.73, for a total value of $318,460.21. Following the sale, the senior vice president owned 84,276 shares of the company’s stock, valued at $2,168,421.48. The trade was a 12.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 of the company’s stock, valued at approximately $2,195,478. This represents a 10.65% 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. Insiders sold a total of 53,198 shares of company stock worth $1,405,521 in the last 90 days. 2.51% of the stock is owned by corporate insiders.

BKV Price Performance

Shares of BKV opened at $24.29 on Thursday. The stock has a 50 day simple moving average of $25.53 and a 200 day simple moving average of $27.51. BKV Corporation has a 52-week low of $20.08 and a 52-week high of $32.81. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.10 and a current ratio of 1.15. The firm has a market capitalization of $2.66 billion, a PE ratio of 8.86 and a beta of 1.08.

BKV (NYSE:BKV) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.21. The firm 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 fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BKV. Jefferies Financial Group reissued a “buy” rating and issued a $34.00 price target on shares of BKV in a report on Friday, July 10th. Zacks Research upgraded BKV from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Barclays lifted their price objective on BKV from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Susquehanna dropped their price objective on BKV from $37.00 to $35.00 and set a “positive” rating for the company in a report on Tuesday, July 21st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of BKV in a research note on Monday. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently 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.