BKV (NYSE:BKV) Reaches New 12-Month High – Here’s Why

Shares of BKV Corporation (NYSE:BKV) hit a new 52-week high on Monday . The stock traded as high as $28.36 and last traded at $28.40, with a volume of 145058 shares trading hands. The stock had previously closed at $27.61.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Mizuho increased their price objective on BKV from $30.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. KeyCorp upped their price target on shares of BKV from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Susquehanna increased their price target on shares of BKV from $32.00 to $33.00 and gave the company a “positive” rating in a research report on Tuesday, November 11th. Barclays began coverage on shares of BKV in a report on Thursday, November 13th. They issued an “overweight” rating and a $32.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of BKV in a research note on Monday, November 24th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.67.

BKV Price Performance

The company has a market cap of $2.57 billion, a PE ratio of 55.07 and a beta of 1.70. The business has a 50 day moving average of $23.74 and a 200 day moving average of $22.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.85 and a quick ratio of 0.83.

BKV (NYSE:BKV) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.34. BKV had a net margin of 5.67% and a return on equity of 6.91%. The business had revenue of $199.23 million for the quarter, compared to the consensus estimate of $234.36 million. As a group, research analysts predict that BKV Corporation will post -1.82 EPS for the current year.

Insider Transactions at BKV

In related news, insider Lindsay B. Larrick sold 22,669 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $25.00, for a total value of $566,725.00. Following the completion of the transaction, the insider directly owned 143,672 shares of the company’s stock, valued at $3,591,800. This represents a 13.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 54,187 shares of company stock valued at $1,311,375 over the last ninety days. 4.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey grew its stake in BKV by 37.9% in the second 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 during the period. Strs Ohio purchased a new position in BKV during the third quarter valued at $278,000. Bank of New York Mellon Corp boosted its holdings in shares of BKV by 21.2% during the 1st quarter. Bank of New York Mellon Corp now owns 35,453 shares of the company’s stock valued at $745,000 after buying an additional 6,209 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of BKV during the 1st quarter valued at $1,605,000. Finally, Cooper Creek Partners Management LLC purchased a new stake in shares of BKV in the 2nd quarter worth about $8,215,000.

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.