BKV (NYSE:BKV) Sets New 1-Year High – Time to Buy?

BKV Corporation (NYSE:BKV)’s share price hit a new 52-week high on Thursday . The company traded as high as $30.73 and last traded at $29.7020, with a volume of 310600 shares changing hands. The stock had previously closed at $28.77.

Analyst Ratings Changes

Several research analysts recently commented on the company. Roth Mkm initiated coverage on BKV in a research report on Wednesday, January 7th. They issued a “buy” rating and a $31.00 price target for the company. KeyCorp reaffirmed an “overweight” rating and set a $30.00 price target on shares of BKV in a research note on Friday, December 19th. Mizuho upped their price objective on shares of BKV from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Barclays began coverage on 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 restated a “hold (c)” rating on shares of BKV in a research note on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, BKV currently has an average rating of “Moderate Buy” and an average target price of $31.14.

BKV Stock Performance

The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $2.88 billion, a PE ratio of 57.19 and a beta of 1.60. The firm has a 50-day moving average of $27.30 and a two-hundred day moving average of $24.13.

BKV (NYSE:BKV) last released its quarterly earnings results on Monday, November 10th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.16 by $0.34. The company had revenue of $199.23 million for the quarter, compared to analyst estimates of $234.36 million. BKV had a net margin of 5.67% and a return on equity of 6.91%. Research analysts anticipate that BKV Corporation will post -1.82 EPS for the current year.

BKV declared that its Board of Directors has initiated a share repurchase program on Thursday, December 18th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at BKV

In other news, insider Lindsay B. Larrick sold 6,518 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $25.00, for a total transaction of $162,950.00. Following the completion of the transaction, the insider directly owned 137,154 shares of the company’s stock, valued at $3,428,850. This represents a 4.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 39,187 shares of company stock valued at $963,375 in the last three months. 4.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BKV. Geode Capital Management LLC lifted its holdings in BKV by 13.9% in the 2nd quarter. Geode Capital Management LLC now owns 376,232 shares of the company’s stock valued at $9,076,000 after purchasing an additional 45,989 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its stake in BKV by 37.9% during 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 acquiring an additional 1,166 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new stake in shares of BKV during the 2nd quarter worth about $8,215,000. Strs Ohio acquired a new stake in shares of BKV during the third quarter valued at about $278,000. Finally, SG Americas Securities LLC purchased a new position in shares of BKV during the 4th quarter worth approximately $1,509,000.

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.