BKV (NYSE:BKV) Reaches New 1-Year Low – What’s Next?

BKV Corporation (NYSE:BKV) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $17.15 and last traded at $17.17, with a volume of 88047 shares trading hands. The stock had previously closed at $20.37.

Wall Street Analyst Weigh In

A number of brokerages have commented on BKV. Barclays boosted their price target on shares of BKV from $24.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. KeyCorp lowered their target price on shares of BKV from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. Truist Financial cut their price target on BKV from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Mizuho increased 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. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $28.00.

BKV Price Performance

The company’s 50-day simple moving average is $21.87.

BKV (NYSE:BKV) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.11. The business had revenue of $119.78 million for the quarter, compared to analysts’ expectations of $183.77 million. As a group, analysts predict that BKV Corporation will post -1.82 earnings per share for the current year.

Insider Activity at BKV

In other BKV news, insider Lindsay B. Larrick sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $21.07, for a total value of $316,050.00. Following the completion of the transaction, the insider now directly owns 245,528 shares of the company’s stock, valued at $5,173,274.96. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ethan Ngo sold 21,667 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $20.09, for a total transaction of $435,290.03. Following the completion of the transaction, the insider now directly owns 286,008 shares in the company, valued at approximately $5,745,900.72. The trade was a 7.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,667 shares of company stock worth $851,490.

Hedge Funds Weigh In On BKV

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

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.