BKV (NYSE:BKV) Reaches New 52-Week High – Here’s What Happened

BKV Corporation (NYSE:BKV) hit a new 52-week high on Monday . The stock traded as high as $30.94 and last traded at $30.5480, with a volume of 103567 shares changing hands. The stock had previously closed at $30.31.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BKV. Mizuho increased their price target on BKV from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of BKV in a report on Monday, December 29th. KeyCorp reissued an “overweight” rating and issued a $34.00 target price on shares of BKV in a research note on Thursday. Roth Mkm reaffirmed a “buy” rating and set a $32.00 price target on shares of BKV in a research report on Thursday. Finally, 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 note on Tuesday, November 11th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.86.

BKV Trading Up 0.2%

The business has a 50 day moving average of $27.56 and a two-hundred day moving average of $24.45. The firm has a market cap of $2.95 billion, a P/E ratio of 58.40 and a beta of 1.60. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27.

BKV (NYSE:BKV) last released its quarterly earnings data on Monday, November 10th. The company reported $0.50 EPS for the quarter, topping 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 firm had revenue of $199.23 million during the quarter, compared to analysts’ expectations of $234.36 million. Analysts predict that BKV Corporation will post -1.82 earnings per share for the current year.

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

Institutional Trading of BKV

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew 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 buying an additional 45,989 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in shares of 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 valued at $102,000 after acquiring an additional 1,166 shares during the period. Cooper Creek Partners Management LLC bought a new stake in shares of BKV in the second quarter valued at about $8,215,000. Strs Ohio acquired a new position in shares of BKV in the third quarter valued at about $278,000. Finally, SG Americas Securities LLC bought a new position in BKV during the fourth quarter worth about $1,509,000.

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