BKV (NYSE:BKV) Stock Price Down 5.5% on Analyst Downgrade

Shares of BKV Corporation (NYSE:BKV) fell 5.5% during mid-day trading on Wednesday after KeyCorp lowered their price target on the stock from $27.00 to $25.00. KeyCorp currently has an overweight rating on the stock. BKV traded as low as $18.08 and last traded at $18.13. 188,313 shares were traded during mid-day trading, a decline of 60% from the average session volume of 471,618 shares. The stock had previously closed at $19.17.

Other analysts also recently issued reports about the company. Susquehanna upped their target price on BKV from $24.00 to $25.00 and gave the company a “positive” rating in a research report on Wednesday, November 13th. Truist Financial upped their price objective on shares of BKV from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Barclays raised their target price on shares of BKV from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, Mizuho upped their price target on shares of BKV from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $28.13.

Institutional Trading of BKV

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in BKV in the 4th quarter valued at approximately $157,000. Corebridge Financial Inc. acquired a new stake in BKV in the fourth quarter valued at $170,000. Bank of New York Mellon Corp acquired a new stake in shares of BKV in the fourth quarter valued at about $695,000. Geode Capital Management LLC bought a new position in shares of BKV during the fourth quarter worth about $7,728,000. Finally, Driehaus Capital Management LLC acquired a new position in shares of BKV in the fourth quarter worth approximately $9,553,000.

BKV Price Performance

The business’s fifty day moving average is $23.72.

BKV (NYSE:BKV) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.11. The firm had revenue of $119.78 million during the quarter, compared to the consensus estimate of $183.77 million. Equities analysts expect that BKV Corporation will post -1.82 EPS for the current fiscal 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.