BKV (NYSE:BKV) Trading Up 6.1% on Analyst Upgrade

BKV Corporation (NYSE:BKV) shares shot up 6.1% during mid-day trading on Tuesday after KeyCorp raised their price target on the stock from $25.00 to $30.00. KeyCorp currently has an overweight rating on the stock. BKV traded as high as $27.58 and last traded at $27.18. 232,294 shares were traded during mid-day trading, a decline of 46% from the average session volume of 431,028 shares. The stock had previously closed at $25.62.

BKV has been the subject of a number of other research reports. Susquehanna raised their price target on shares of BKV from $32.00 to $33.00 and gave the stock a “positive” rating in a report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of BKV in a research note on Wednesday, October 8th. Finally, Mizuho lifted their price objective on BKV from $30.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, BKV presently has an average rating of “Moderate Buy” and a consensus price target of $30.33.

Insider Buying and Selling

In related news, insider Lindsay B. Larrick sold 6,518 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $25.00, for a total transaction of $162,950.00. Following the completion of the sale, the insider owned 137,154 shares in the company, valued at $3,428,850. This represents a 4.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 54,187 shares of company stock valued at $1,311,375. 4.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BKV

Several institutional investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey raised its holdings in BKV by 37.9% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,246 shares of the company’s stock worth $102,000 after purchasing an additional 1,166 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of BKV by 21.2% during the 1st quarter. Bank of New York Mellon Corp now owns 35,453 shares of the company’s stock valued at $745,000 after acquiring an additional 6,209 shares during the period. Strs Ohio acquired a new stake in shares of BKV in the 3rd quarter worth approximately $278,000. Geode Capital Management LLC increased its stake in BKV by 13.9% in the 2nd quarter. Geode Capital Management LLC now owns 376,232 shares of the company’s stock valued at $9,076,000 after purchasing an additional 45,989 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in BKV in the 1st quarter valued at approximately $1,605,000.

BKV Stock Performance

The firm has a fifty day moving average of $22.47 and a 200-day moving average of $21.97. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -136.00 and a beta of 1.70.

BKV (NYSE:BKV) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.24. BKV had a positive return on equity of 3.21% and a negative net margin of 2.69%.The business had revenue of $322.04 million during the quarter, compared to analysts’ expectations of $224.05 million. As a group, sell-side analysts anticipate that BKV Corporation will post -1.82 EPS for the current year.

BKV Company Profile

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.