BKV Corporation (NYSE:BKV) Stock Has Average Target Price of $33.67

Shares of BKV Corporation (NYSE:BKV) have earned a consensus recommendation of “Buy” from the eleven brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $33.67.

BKV has been the subject of several research analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $34.00 price objective on shares of BKV in a research report on Friday, July 10th. Wall Street Zen downgraded BKV from a “sell” rating to a “strong sell” rating in a report on Saturday. Susquehanna decreased their target price on shares of BKV from $37.00 to $35.00 and set a “positive” rating on the stock in a research report on Tuesday, July 21st. Barclays lowered their price target on shares of BKV from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 15th. Finally, Weiss Ratings upgraded shares of BKV from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th.

BKV Price Performance

BKV stock opened at $22.70 on Friday. 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 company has a market capitalization of $2.48 billion, a P/E ratio of 8.29 and a beta of 1.13. The business has a 50 day simple moving average of $23.98 and a 200-day simple moving average of $25.77. BKV has a twelve month low of $20.17 and a twelve month high of $32.81.

BKV (NYSE:BKV) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.21. The firm had revenue of $465.54 million for the quarter, compared to analyst estimates of $355.25 million. BKV had a return on equity of 6.67% and a net margin of 17.73%. As a group, equities analysts anticipate that BKV will post 1.49 EPS for the current year.

Insider Buying and Selling

In other BKV news, insider Lindsay B. Larrick sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $26.16, for a total transaction of $261,600.00. Following the completion of the transaction, the insider directly owned 83,925 shares in the company, valued at approximately $2,195,478. This trade represents a 10.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Tameron sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $25.63, for a total transaction of $38,445.00. Following the transaction, the chief financial officer owned 57,024 shares of the company’s stock, valued at $1,461,525.12. This trade represents a 2.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 35,626 shares of company stock worth $901,589 in the last quarter. Company insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On BKV

A number of hedge funds and other institutional investors have recently modified their holdings of BKV. State of Alaska Department of Revenue grew its position in BKV by 23.1% during the third quarter. State of Alaska Department of Revenue now owns 4,160 shares of the company’s stock valued at $88,000 after acquiring an additional 782 shares during the period. PEAK6 LLC acquired a new position in shares of BKV in the 2nd quarter valued at about $270,000. Arizona State Retirement System acquired a new position in shares of BKV in the 2nd quarter valued at about $289,000. Jupiter Topco LLC acquired a new position in shares of BKV in the 2nd quarter valued at about $446,000. Finally, The Manufacturers Life Insurance Company purchased a new position in BKV in the second quarter valued at approximately $479,000.

About BKV

BKV Corporation is an independent energy company focused on the exploration, development and production of natural gas in the United States. The company’s operations are centered on unconventional shale resources, with activities that include drilling, well completion, production and management of natural gas assets.

In addition to its upstream operations, BKV is developing complementary energy businesses, including natural gas power generation and carbon capture, utilization and storage.