BKV Corporation (NYSE:BKV) Receives $31.14 Average PT from Brokerages

Shares of BKV Corporation (NYSE:BKV) have been given an average recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $31.1429.

Several equities analysts recently commented on BKV shares. Roth Capital started coverage on BKV in a research report on Wednesday, January 7th. They set a “buy” rating and a $31.00 target price for the company. Barclays began coverage on BKV in a research report on Thursday, November 13th. They set an “overweight” rating and a $32.00 price target for the company. Mizuho boosted their price objective on BKV from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Weiss Ratings restated a “hold (c)” rating on shares of BKV in a research report on Monday, December 29th. Finally, KeyCorp reiterated an “overweight” rating and set a $30.00 target price on shares of BKV in a research report on Friday, December 19th.

BKV Stock Performance

BKV stock opened at $26.25 on Wednesday. BKV has a 1-year low of $15.00 and a 1-year high of $29.65. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $2.54 billion, a PE ratio of 50.48 and a beta of 1.60. The firm’s 50 day simple moving average is $26.94 and its 200 day simple moving average is $23.73.

BKV (NYSE:BKV) last announced 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 firm had revenue of $199.23 million during the quarter, compared to the consensus estimate of $234.36 million. BKV had a net margin of 5.67% and a return on equity of 6.91%. As a group, analysts expect that BKV will post -1.82 earnings per share for the current fiscal year.

BKV announced that its board has authorized a stock buyback plan on Thursday, December 18th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, insider Lindsay B. Larrick sold 6,518 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $25.00, for a total value of $162,950.00. Following the completion of the transaction, the insider directly owned 137,154 shares in the company, valued at approximately $3,428,850. The trade was a 4.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 39,187 shares of company stock worth $963,375. Insiders own 4.11% of the company’s stock.

Institutional Investors Weigh In On BKV

Hedge funds have recently added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey boosted 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 buying an additional 1,166 shares in the last quarter. Strs Ohio bought a new stake in shares of BKV in the 3rd quarter worth approximately $278,000. Geode Capital Management LLC lifted its holdings in shares of BKV by 13.9% in the 2nd quarter. Geode Capital Management LLC now owns 376,232 shares of the company’s stock worth $9,076,000 after acquiring an additional 45,989 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of BKV in the 4th quarter valued at $1,509,000. Finally, Cooper Creek Partners Management LLC boosted its stake in shares of BKV by 35.6% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 461,657 shares of the company’s stock valued at $10,678,000 after purchasing an additional 121,082 shares in the last quarter.

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. BKV Corporation, LLC operates as a subsidiary of Banpu North America Corporation.