BKV (NYSE:BKV) Sets New 12-Month Low on Insider Selling

BKV Corporation (NYSE:BKV)’s stock price reached a new 52-week low during trading on Monday after an insider sold shares in the company. The stock traded as low as $20.15 and last traded at $20.3170, with a volume of 6,146 shares traded. The stock had previously closed at $20.36.

Specifically, SVP Javier Hinojosa sold 4,952 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $20.91, for a total transaction of $103,546.32. Following the transaction, the senior vice president owned 71,896 shares in the company, valued at approximately $1,503,345.36. This represents a 6.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Evercore upgraded BKV to a “strong-buy” rating in a research note on Friday, September 18th. Truist Financial lifted their price target on BKV from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. Zacks Research raised BKV from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Weiss Ratings downgraded BKV from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. Finally, Barclays decreased their price objective on BKV from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, BKV has a consensus rating of “Buy” and a consensus price target of $33.67.

BKV Stock Up 2.6%

The stock has a market capitalization of $2.34 billion, a PE ratio of 7.80 and a beta of 1.13. The company’s fifty day moving average price is $23.46 and its 200-day moving average price is $26.59.

BKV (NYSE:BKV) last released its earnings results on Thursday, August 6th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.21. The company had revenue of $465.54 million during the quarter, compared to analysts’ expectations of $355.25 million. Equities research analysts anticipate that BKV Corporation will post 1.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its stake in shares of BKV by 23.1% in the third quarter. State of Alaska Department of Revenue now owns 4,160 shares of the company’s stock worth $88,000 after buying an additional 782 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in BKV by 37.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,084 shares of the company’s stock worth $823,000 after acquiring an additional 8,144 shares during the last quarter. PEAK6 LLC purchased a new position in BKV in the 2nd quarter worth approximately $270,000. Arizona State Retirement System purchased a new position in BKV in the 2nd quarter worth approximately $289,000. Finally, IMC Chicago LLC lifted its position in BKV by 100.0% in the 2nd quarter. IMC Chicago LLC now owns 24,205 shares of the company’s stock valued at $662,000 after acquiring an additional 12,105 shares in the last quarter.

BKV Company Profile

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.