BKV (NYSE:BKV) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of BKV (NYSE:BKV) from a hold rating to a strong sell rating in a research note published on Thursday morning,Zacks.com reports.

BKV has been the subject of a number of other research reports. Susquehanna increased their target price on shares of BKV from $32.00 to $33.00 and gave the stock a “positive” rating in a report on Tuesday, November 11th. KeyCorp reaffirmed an “overweight” rating and issued a $34.00 price objective on shares of BKV in a research note on Thursday, February 5th. Barclays assumed coverage on shares of BKV in a research report on Thursday, November 13th. They set an “overweight” rating and a $32.00 target price on the stock. Mizuho upped their price target on shares of BKV from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Finally, Weiss Ratings reaffirmed 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, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.86.

BKV Price Performance

Shares of NYSE:BKV traded up $1.28 during midday trading on Thursday, hitting $31.28. The stock had a trading volume of 999,136 shares, compared to its average volume of 652,465. The company’s 50-day moving average price is $28.39 and its 200-day moving average price is $25.44. BKV has a fifty-two week low of $15.00 and a fifty-two week high of $31.74. 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 $3.03 billion, a P/E ratio of 16.04 and a beta of 1.60.

BKV (NYSE:BKV) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). BKV had a net margin of 17.16% and a return on equity of 8.43%. The firm had revenue of $259.91 million during the quarter, compared to the consensus estimate of $268.05 million. As a group, equities research analysts predict that BKV will post -1.82 EPS for the current fiscal year.

BKV declared that its Board of Directors has authorized a share repurchase program on Thursday, December 18th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On BKV

Institutional investors have recently added to or reduced their stakes in the business. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of BKV in the 4th quarter valued at $52,000. Police & Firemen s Retirement System of New Jersey increased 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 valued at $102,000 after purchasing an additional 1,166 shares in the last quarter. Strs Ohio bought a new stake in BKV in the third quarter valued at $278,000. SG Americas Securities LLC acquired a new position in shares of BKV during the fourth quarter valued at about $1,509,000. Finally, Cooper Creek Partners Management LLC bought a new position in shares of BKV during the 2nd quarter worth about $8,215,000.

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.