KeyCorp Raises BKV (NYSE:BKV) Price Target to $35.00

BKV (NYSE:BKV) had its price target upped by equities researchers at KeyCorp from $34.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 28.05% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of BKV in a research note on Monday, December 29th. Zacks Research cut shares of BKV from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Citigroup reiterated a “buy” rating and issued a $36.00 price objective on shares of BKV in a research report on Tuesday, March 10th. Mizuho lifted their price objective on BKV from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Finally, Truist Financial started coverage on BKV in a research report on Tuesday, March 24th. They set a “buy” rating and a $37.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, BKV presently has an average rating of “Moderate Buy” and a consensus target price of $33.38.

BKV Stock Down 4.2%

Shares of NYSE BKV opened at $27.33 on Thursday. The company has a quick ratio of 1.75, a current ratio of 1.78 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.99 billion, a P/E ratio of 14.02 and a beta of 1.64. BKV has a 52 week low of $15.00 and a 52 week high of $32.81. The business has a 50-day simple moving average of $29.62 and a two-hundred day simple moving average of $26.63.

BKV (NYSE:BKV) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). BKV had a return on equity of 7.91% 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. Research analysts anticipate that BKV will post -1.82 earnings per share for the current fiscal year.

BKV announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 18th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at BKV

In other news, CFO David Tameron sold 7,300 shares of the stock in a transaction on Friday, March 27th. The shares were sold at an average price of $29.71, for a total value of $216,883.00. Following the transaction, the chief financial officer owned 61,925 shares of the company’s stock, valued at $1,839,791.75. This represents a 10.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.12% of the stock is owned by insiders.

Institutional Trading of BKV

Hedge funds have recently made changes to their positions in the stock. SBI Okasan Asset Management Co.Ltd. purchased a new position in BKV in the fourth quarter worth $52,000. Police & Firemen s Retirement System of New Jersey raised its position in BKV by 34.3% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 5,701 shares of the company’s stock valued at $155,000 after purchasing an additional 1,455 shares in the last quarter. Strs Ohio purchased a new stake in BKV during the third quarter valued at about $278,000. SG Americas Securities LLC bought a new stake in BKV during the fourth quarter worth about $1,509,000. Finally, Cooper Creek Partners Management LLC bought a new stake in BKV during the second quarter worth about $8,215,000.

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