BKV (NYSE:BKV) Shares Down 3.5% on Insider Selling

BKV Corporation (NYSE:BKV)’s stock price traded down 3.5% on Friday after an insider sold shares in the company. The stock traded as low as $25.16 and last traded at $25.18. 342,678 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 884,878 shares. The stock had previously closed at $26.10.

Specifically, CFO David Tameron sold 4,321 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $26.56, for a total transaction of $114,765.76. Following the transaction, the chief financial officer owned 58,524 shares in the company, valued at $1,554,397.44. The trade was a 6.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay B. Larrick sold 10,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $26.16, for a total value of $261,600.00. Following the completion of the sale, the insider owned 83,925 shares of the company’s stock, valued at approximately $2,195,478. This trade represents a 10.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

BKV has been the subject of several recent research reports. Zacks Research raised shares of BKV from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Citigroup decreased their target price on shares of BKV from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, June 11th. Truist Financial lowered their price target on shares of BKV from $34.00 to $33.00 and set a “buy” rating for the company in a report on Monday, August 10th. Barclays lifted their price target on shares of BKV from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $34.00 price objective on shares of BKV in a research report on Friday, July 10th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.25.

BKV Stock Down 3.5%

The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2.76 billion, a P/E ratio of 9.19 and a beta of 1.08. The stock’s 50 day simple moving average is $25.55 and its 200 day simple moving average is $27.64.

BKV (NYSE:BKV) last released its earnings results on Thursday, August 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.21. The company had revenue of $465.54 million during the quarter, compared to the consensus estimate of $355.25 million. BKV had a net margin of 17.73% and a return on equity of 6.68%. As a group, research analysts predict that BKV Corporation will post 1.77 EPS for the current fiscal year.

Institutional Trading of BKV

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in BKV during the 2nd quarter worth approximately $74,241,000. Cooper Creek Partners Management LLC lifted its stake in BKV by 24.7% during the first quarter. Cooper Creek Partners Management LLC now owns 2,103,230 shares of the company’s stock worth $59,984,000 after purchasing an additional 416,281 shares during the last quarter. William Blair Investment Management LLC bought a new position in BKV during the second quarter worth $32,689,000. Value Aligned Research Advisors LLC acquired a new position in BKV in the second quarter worth $18,602,000. Finally, Bank of America Corp DE bought a new stake in BKV during the second quarter valued at $16,177,000.

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.