BKV (NYSE:BKV) Hits New 12-Month Low on Insider Selling

BKV Corporation (NYSE:BKV)’s stock price hit a new 52-week low on Monday after an insider sold shares in the company. The company traded as low as $20.15 and last traded at $20.3170, with a volume of 6,146 shares trading hands. The stock had previously closed at $20.36.

Specifically, SVP Javier Hinojosa sold 4,952 shares of BKV stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $20.91, for a total transaction of $103,546.32. Following the completion of the transaction, the senior vice president owned 71,896 shares of the company’s stock, valued at $1,503,345.36. This trade represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen cut shares of BKV from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 17th. Evercore raised BKV to a “strong-buy” rating in a research note on Friday, September 18th. Barclays cut their price target on BKV from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, September 15th. Susquehanna reduced their price objective on shares of BKV from $37.00 to $35.00 and set a “positive” rating for the company in a research report on Tuesday, July 21st. Finally, Weiss Ratings lowered shares of BKV from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $33.67.

BKV Trading Up 2.6%

The company has a market cap of $2.34 billion, a P/E ratio of 7.80 and a beta of 1.13. The stock’s 50-day moving average price is $23.46 and its 200-day moving average price is $26.59.

BKV (NYSE:BKV) last issued its earnings results on Thursday, August 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.21. The firm had revenue of $465.54 million during the quarter, compared to the consensus estimate of $355.25 million. On average, research analysts anticipate that BKV Corporation will post 1.49 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 BKV. State of Alaska Department of Revenue lifted its stake in shares of BKV by 23.1% in the third quarter. State of Alaska Department of Revenue now owns 4,160 shares of the company’s stock valued at $88,000 after buying an additional 782 shares in the last quarter. PEAK6 LLC acquired a new stake in shares of BKV in the 2nd quarter worth about $270,000. Arizona State Retirement System acquired a new stake in shares of BKV in the 2nd quarter worth about $289,000. Jupiter Topco LLC acquired a new stake in shares of BKV in the 2nd quarter worth about $446,000. Finally, The Manufacturers Life Insurance Company bought a new position in BKV in the 2nd quarter valued at about $479,000.

About BKV

BKV Corporation is an independent energy company focused on the exploration, development and production of natural gas in the United States. The company’s operations are centered on unconventional shale resources, with activities that include drilling, well completion, production and management of natural gas assets.

In addition to its upstream operations, BKV is developing complementary energy businesses, including natural gas power generation and carbon capture, utilization and storage.