BKV (NYSE:BKV) Shares Down 3.5% Following Insider Selling

Shares of BKV Corporation (NYSE:BKV) fell 3.5% during trading on Friday following insider selling activity. The stock traded as low as $25.16 and last traded at $25.18. 342,678 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 884,878 shares. The stock had previously closed at $26.10.

Specifically, CFO David Tameron sold 4,321 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $26.56, for a total transaction of $114,765.76. Following the completion of the transaction, the chief financial officer directly owned 58,524 shares in the company, valued at approximately $1,554,397.44. This trade represents a 6.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay B. Larrick sold 10,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $26.16, for a total transaction of $261,600.00. Following the completion of the sale, the insider directly owned 83,925 shares in the company, valued at $2,195,478. This trade represents a 10.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

BKV has been the subject of a number of recent research reports. Zacks Research raised shares of BKV from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Truist Financial dropped their price objective on BKV from $34.00 to $33.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $34.00 price target on shares of BKV in a research note on Friday, July 10th. Wall Street Zen raised shares of BKV from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Citigroup reduced their price target on BKV from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, June 11th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.25.

BKV Price Performance

The company’s 50 day moving average price is $25.55 and its 200-day moving average price is $27.64. The company has a market capitalization of $2.76 billion, a PE ratio of 9.19 and a beta of 1.08. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.45.

BKV (NYSE:BKV) last issued its earnings results on Thursday, August 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.21. BKV had a return on equity of 6.68% and a net margin of 17.73%.The business had revenue of $465.54 million for the quarter, compared to analyst estimates of $355.25 million. On average, sell-side analysts forecast that BKV Corporation will post 1.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BKV

A number of large investors have recently modified their holdings of the company. SBI Okasan Asset Management Co.Ltd. acquired a new stake in BKV during the 4th quarter worth approximately $52,000. Police & Firemen s Retirement System of New Jersey grew its stake 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 worth $155,000 after buying an additional 1,455 shares during the period. PEAK6 LLC purchased a new stake in BKV during the second quarter worth approximately $270,000. Jupiter Topco LLC acquired a new stake in shares of BKV in the second quarter worth $446,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of BKV in the second quarter worth $479,000.

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.