Quantbot Technologies LP Cuts Stake in BKV Corporation $BKV

Quantbot Technologies LP cut its holdings in shares of BKV Corporation (NYSE:BKV) by 69.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,913 shares of the company’s stock after selling 28,823 shares during the period. Quantbot Technologies LP’s holdings in BKV were worth $299,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey boosted its position in shares of BKV by 37.9% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,246 shares of the company’s stock worth $102,000 after purchasing an additional 1,166 shares in the last quarter. Strs Ohio acquired a new position in BKV during the 3rd quarter valued at about $278,000. Cooper Creek Partners Management LLC acquired a new position in BKV during the 2nd quarter valued at about $8,215,000. Finally, Geode Capital Management LLC raised its stake in BKV by 13.9% in the second quarter. Geode Capital Management LLC now owns 376,232 shares of the company’s stock valued at $9,076,000 after buying an additional 45,989 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Zacks Research downgraded BKV from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. KeyCorp restated an “overweight” rating and set a $34.00 price objective on shares of BKV in a report on Thursday, February 5th. Citigroup reaffirmed a “buy” rating and issued a $36.00 price objective on shares of BKV in a research report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of BKV in a research report on Monday, December 29th. Finally, Susquehanna upped their price target on shares of BKV from $32.00 to $33.00 and gave the company a “positive” rating in a research note on Tuesday, November 11th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.38.

BKV Stock Performance

BKV opened at $28.99 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. BKV Corporation has a 12-month low of $15.00 and a 12-month high of $32.81. The firm has a 50 day moving average of $28.85 and a two-hundred day moving average of $25.94. The firm has a market capitalization of $2.97 billion, a PE ratio of 14.87 and a beta of 1.54.

BKV (NYSE:BKV) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.08). The business had revenue of $259.91 million during the quarter, compared to analysts’ expectations of $268.05 million. BKV had a net margin of 17.16% and a return on equity of 7.91%. On average, analysts anticipate that BKV Corporation will post -1.82 EPS for the current year.

BKV announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 18th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.