IMC Chicago LLC Purchases Shares of 24,205 BKV Corporation $BKV

IMC Chicago LLC purchased a new position in BKV Corporation (NYSE:BKV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,205 shares of the company’s stock, valued at approximately $662,000.

A number of other hedge funds have also recently modified their holdings of the company. William Blair Investment Management LLC purchased a new stake in shares of BKV during the second quarter worth about $32,689,000. Cooper Creek Partners Management LLC grew its stake in shares of 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 last quarter. Bank of New York Mellon Corp increased its holdings in BKV by 13.0% during the 1st quarter. Bank of New York Mellon Corp now owns 544,932 shares of the company’s stock valued at $15,541,000 after purchasing an additional 62,485 shares during the period. SIR Capital Management L.P. purchased a new position in BKV during the 2nd quarter valued at about $1,135,000. Finally, Oxbow Advisors LLC bought a new position in BKV during the 2nd quarter valued at approximately $3,701,000.

Insider Transactions at BKV

In related news, insider Eric S. Jacobsen sold 25,000 shares of BKV stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $26.89, for a total transaction of $672,250.00. Following the sale, the insider directly owned 227,843 shares in the company, valued at $6,126,698.27. The trade was a 9.89% decrease in their ownership of the stock. The transaction 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, CFO David Tameron sold 4,321 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.56, for a total value of $114,765.76. Following the completion of the sale, the chief financial officer directly owned 58,524 shares in the company, valued at approximately $1,554,397.44. The trade was a 6.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 over the last 90 days. 2.51% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $34.00 price objective on shares of BKV in a report on Friday, July 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of BKV in a research note on Monday, August 24th. Citigroup decreased their target price on BKV from $36.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, June 11th. Barclays raised their price target on BKV from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of BKV from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, BKV presently has an average rating of “Moderate Buy” and an average target price of $34.25.

BKV Price Performance

BKV stock opened at $24.06 on Friday. BKV Corporation has a 1 year low of $20.08 and a 1 year high of $32.81. The company has a market cap of $2.63 billion, a P/E ratio of 8.78 and a beta of 1.08. The firm has a 50-day moving average of $25.52 and a 200 day moving average of $27.44. 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 data 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 net margin of 17.73% and a return on equity of 6.67%. The business had revenue of $465.54 million during the quarter, compared to analyst estimates of $355.25 million. On average, sell-side analysts forecast that BKV Corporation will post 1.77 EPS for the current year.

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. BKV Corporation, LLC operates as a subsidiary of Banpu North America Corporation.