BKV (NYSE:BKV) to Repurchase $100.00 million in Outstanding Stock

BKV (NYSE:BKV) declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 18th, RTT News reports. The company plans to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BKV shares. Susquehanna lifted their target price on shares of BKV from $32.00 to $33.00 and gave the stock a “positive” rating in a research note on Tuesday, November 11th. Barclays started coverage on shares of BKV in a research report on Thursday, November 13th. They set an “overweight” rating and a $32.00 price target for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of BKV in a research note on Monday. Zacks Research upgraded shares of BKV from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 4th. Finally, KeyCorp upped their price target on BKV from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $31.17.

BKV Stock Down 0.8%

Shares of BKV stock traded down $0.21 during trading on Thursday, reaching $25.99. The company’s stock had a trading volume of 1,048,730 shares, compared to its average volume of 1,067,862. BKV has a 1-year low of $15.00 and a 1-year high of $29.65. The stock’s 50-day moving average price is $24.97 and its 200 day moving average price is $23.24. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 49.99 and a beta of 1.57. 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 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 during the quarter, compared to analysts’ expectations of $234.36 million. BKV had a net margin of 5.67% and a return on equity of 6.91%. On average, research analysts anticipate that BKV 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 business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $25.00, for a total transaction 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. The trade was a 13.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 54,187 shares of company stock valued at $1,311,375 in the last ninety days. Company insiders own 4.11% of the company’s stock.

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.