BKV Corporation’s (NYSE:BKV) Lock-Up Period Will End Tomorrow

BKV’s (NYSE:BKV) lock-up period is set to end on Tuesday, March 25th. BKV had issued 15,000,000 shares in its initial public offering on September 26th. The total size of the offering was $270,000,000 based on an initial share price of $18.00. After the expiration of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BKV shares. Mizuho raised their price objective on BKV from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Barclays upped their target price on BKV from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Truist Financial dropped their price target on BKV from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Finally, KeyCorp reduced their price objective on shares of BKV from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $28.00.

BKV Trading Down 1.4 %

NYSE:BKV opened at $20.78 on Monday. BKV has a 1-year low of $17.39 and a 1-year high of $26.78. The company’s fifty day simple moving average is $22.73.

BKV (NYSE:BKV) last issued its earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.11. The business had revenue of $119.78 million during the quarter, compared to analyst estimates of $183.77 million. Equities research analysts predict that BKV will post -1.82 EPS for the current year.

Institutional Investors Weigh In On BKV

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System purchased a new position in shares of BKV during the 4th quarter valued at $26,000. SG Americas Securities LLC acquired a new stake in BKV during the fourth quarter valued at $157,000. Corebridge Financial Inc. purchased a new position in BKV in the fourth quarter valued at about $170,000. Bank of New York Mellon Corp acquired a new position in BKV in the 4th quarter worth about $695,000. Finally, Geode Capital Management LLC purchased a new stake in shares of BKV during the 4th quarter worth about $7,728,000.

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.