BKV (NYSE:BKV) Price Target Raised to $26.00

BKV (NYSE:BKV) had its price objective lifted by Evercore ISI from $20.00 to $26.00 in a report issued on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other analysts have also recently commented on BKV. Barclays upped their price target on BKV from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Truist Financial reduced their price target on BKV from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Finally, KeyCorp dropped their price objective on BKV from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $28.13.

BKV Stock Performance

Shares of BKV opened at $21.48 on Friday. The business has a 50-day simple moving average of $19.40 and a two-hundred day simple moving average of $21.45. BKV has a 52 week low of $15.00 and a 52 week high of $26.78.

BKV (NYSE:BKV) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.26. The company had revenue of $216.13 million during the quarter, compared to analysts’ expectations of $223.20 million. Analysts forecast that BKV will post -1.82 EPS for the current year.

Insider Transactions at BKV

In other news, insider Ethan Ngo sold 21,667 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $20.09, for a total value of $435,290.03. Following the completion of the transaction, the insider now owns 286,008 shares of the company’s stock, valued at $5,745,900.72. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eric S. Jacobsen sold 31,350 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $20.01, for a total value of $627,313.50. Following the completion of the transaction, the insider now directly owns 289,253 shares of the company’s stock, valued at approximately $5,787,952.53. This trade represents a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 173,777 shares of company stock valued at $3,602,199 over the last 90 days.

Hedge Funds Weigh In On BKV

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new position in BKV during the fourth quarter valued at approximately $26,000. SG Americas Securities LLC bought a new position in BKV during the fourth quarter valued at approximately $157,000. Corebridge Financial Inc. bought a new position in BKV during the fourth quarter valued at approximately $170,000. Bank of New York Mellon Corp bought a new position in BKV during the fourth quarter valued at approximately $695,000. Finally, Quantbot Technologies LP bought a new position in BKV during the first quarter valued at approximately $1,605,000.

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.