BKV (NYSE:BKV) Downgraded to Strong Sell Rating by Zacks Research

BKV (NYSE:BKV) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

Several other research firms also recently commented on BKV. Mizuho upped their target price on shares of BKV from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Barclays initiated coverage on shares of BKV in a research report on Thursday, November 13th. They set an “overweight” rating and a $32.00 price objective on the stock. Roth Mkm restated a “buy” rating and set a $32.00 price objective on shares of BKV in a report on Thursday, February 5th. KeyCorp reiterated an “overweight” rating and issued a $34.00 price target on shares of BKV in a report on Thursday, February 5th. Finally, Susquehanna boosted their price objective on shares of BKV from $32.00 to $33.00 and gave the stock a “positive” rating in a research note on Tuesday, November 11th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.86.

BKV Price Performance

BKV opened at $31.28 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.85. The company’s 50-day simple moving average is $28.39 and its two-hundred day simple moving average is $25.44. BKV has a 52-week low of $15.00 and a 52-week high of $31.74. The stock has a market capitalization of $3.03 billion, a P/E ratio of 16.04 and a beta of 1.60.

BKV (NYSE:BKV) last announced its earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.08). BKV had a return on equity of 8.43% and a net margin of 17.16%.The firm had revenue of $259.91 million during the quarter, compared to analysts’ expectations of $268.05 million. As a group, analysts predict that BKV will post -1.82 EPS for the current year.

BKV declared that its Board of Directors has initiated a share repurchase program on Thursday, December 18th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On BKV

Several hedge funds and other institutional investors have recently made changes to their positions in BKV. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of BKV during the 4th quarter worth approximately $52,000. Police & Firemen s Retirement System of New Jersey raised its position in BKV by 37.9% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,246 shares of the company’s stock valued at $102,000 after purchasing an additional 1,166 shares during the period. Strs Ohio purchased a new stake in shares of BKV in the 3rd quarter valued at $278,000. SG Americas Securities LLC acquired a new stake in shares of BKV during the fourth quarter worth about $1,509,000. Finally, Cooper Creek Partners Management LLC acquired a new stake in BKV during the 2nd quarter worth approximately $8,215,000.

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. BKV Corporation, LLC operates as a subsidiary of Banpu North America Corporation.