BKV Corporation (NYSE:BKV) Insider Sells $627,313.50 in Stock

BKV Corporation (NYSE:BKV) insider Eric S. Jacobsen sold 31,350 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $20.01, for a total value of $627,313.50. Following the completion of the sale, the insider now directly owns 289,253 shares in the company, valued at approximately $5,787,952.53. This represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

BKV Stock Performance

Shares of NYSE:BKV traded up $1.29 during trading on Monday, hitting $21.76. 218,232 shares of the company’s stock were exchanged, compared to its average volume of 461,205. BKV Corporation has a 52-week low of $15.00 and a 52-week high of $26.78. The business’s 50-day simple moving average is $18.77 and its 200 day simple moving average is $21.14.

BKV (NYSE:BKV) last released its quarterly earnings results on Friday, May 9th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.26. The firm had revenue of $216.13 million for the quarter, compared to analysts’ expectations of $223.20 million. Equities research analysts forecast that BKV Corporation will post -1.82 EPS for the current fiscal year.

Institutional Investors Weigh In On BKV

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Driehaus Capital Management LLC bought a new stake in BKV during the 4th quarter valued at $9,553,000. Geode Capital Management LLC purchased a new position in shares of BKV in the 4th quarter valued at $7,728,000. Bank of New York Mellon Corp increased its holdings in shares of BKV by 21.2% in the 1st quarter. Bank of New York Mellon Corp now owns 35,453 shares of the company’s stock valued at $745,000 after acquiring an additional 6,209 shares during the period. Corebridge Financial Inc. purchased a new position in shares of BKV in the 4th quarter valued at $170,000. Finally, SG Americas Securities LLC purchased a new position in shares of BKV in the 4th quarter valued at $157,000.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BKV shares. Truist Financial lowered their target price on BKV from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 17th. KeyCorp lowered their target price on BKV from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. Finally, Barclays upped their price target on BKV from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $27.88.

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.