BKV Corporation (NYSE:BKV) Stock Has Consensus Price Target of $33.33 According to Brokerages

BKV Corporation (NYSE:BKV) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $33.11.

A number of brokerages recently weighed in on BKV. Zacks Research cut shares of BKV from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 4th. Weiss Ratings cut BKV from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Truist Financial lowered their target price on BKV from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, November 9th. Evercore raised BKV to a “strong-buy” rating in a report on Friday, September 18th. Finally, Susquehanna cut their price target on BKV from $37.00 to $35.00 and set a “positive” rating for the company in a research note on Tuesday, July 21st.

Insiders Place Their Bets

In other BKV news, CFO David Tameron sold 4,321 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $26.56, for a total transaction of $114,765.76. Following the completion of the transaction, the chief financial officer owned 58,524 shares in the company, valued at approximately $1,554,397.44. This represents a 6.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Javier Hinojosa sold 12,377 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $25.73, for a total transaction of $318,460.21. Following the completion of the sale, the senior vice president owned 84,276 shares of the company’s stock, valued at $2,168,421.48. This trade represents a 12.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 30,578 shares of company stock worth $743,536. 2.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BKV

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of BKV in the second quarter valued at approximately $74,241,000. William Blair Investment Management LLC acquired a new position in BKV during the second quarter worth $32,689,000. Bank of America Corp DE acquired a new position in BKV during the second quarter worth $16,177,000. Bank of New York Mellon Corp purchased a new position in BKV in the second quarter worth $15,261,000. Finally, Empowered Funds LLC raised its position in BKV by 962.9% in the third quarter. Empowered Funds LLC now owns 528,804 shares of the company’s stock worth $11,285,000 after acquiring an additional 479,051 shares in the last quarter.

BKV Stock Performance

NYSE BKV traded down $0.00 on Tuesday, reaching $19.27. The stock had a trading volume of 951,087 shares, compared to its average volume of 1,866,311. The stock has a market cap of $2.08 billion, a P/E ratio of 9.13 and a beta of 1.13. BKV has a 12-month low of $17.47 and a 12-month high of $32.81. The business’s 50-day moving average price is $22.02 and its 200 day moving average price is $26.11. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.18 and a current ratio of 3.25.

BKV (NYSE:BKV) last announced its earnings results on Thursday, November 5th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). BKV had a return on equity of 6.12% and a net margin of 12.87%. The business had revenue of $478.37 million for the quarter, compared to analysts’ expectations of $395.18 million. As a group, equities analysts expect that BKV will post 1.37 earnings per share for the current year.

About BKV

BKV Corporation is a U.S. energy company focused on natural gas production and related businesses. It operates in the Barnett Shale in Texas and the Marcellus Shale in Pennsylvania, producing natural gas for sale to customers and markets across the region. The company has expanded beyond production into natural gas gathering and processing, natural gas-fired power generation, and carbon capture and sequestration. These activities connect its gas operations with energy delivery and projects intended to reduce emissions.