BKV (NYSE:BKV) Raised to Hold at Zacks Research

BKV (NYSE:BKV) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts also recently commented on BKV. Weiss Ratings downgraded BKV from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Jefferies Financial Group reduced their target price on BKV from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Wall Street Zen downgraded BKV from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Citigroup reduced their target price on BKV from $36.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, June 11th. Finally, Truist Financial initiated coverage on BKV in a 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 issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.13.

BKV Trading Up 0.4%

Shares of NYSE BKV opened at $24.24 on Monday. BKV has a 12 month low of $19.56 and a 12 month high of $32.81. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 7.34 and a beta of 1.05. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $27.72 and a 200-day simple moving average of $28.22.

BKV (NYSE:BKV) last announced its earnings results on Thursday, May 7th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.14). BKV had a net margin of 21.71% and a return on equity of 6.43%. The company had revenue of $432.85 million for the quarter, compared to analysts’ expectations of $337.64 million. Sell-side analysts predict that BKV will post 1.5 EPS for the current year.

Insider Activity

In related news, CFO David Tameron sold 7,300 shares of the stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $29.71, for a total value of $216,883.00. Following the completion of the sale, the chief financial officer directly owned 61,925 shares of the company’s stock, valued at approximately $1,839,791.75. This represents a 10.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric S. Jacobsen sold 25,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.89, for a total value of $672,250.00. Following the completion of the sale, the insider directly owned 227,843 shares of the company’s stock, valued at approximately $6,126,698.27. This represents a 9.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 57,300 shares of company stock valued at $1,663,133. Company insiders own 2.51% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BKV. Cooper Creek Partners Management LLC increased its position in BKV by 35.6% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 461,657 shares of the company’s stock worth $10,678,000 after purchasing an additional 121,082 shares during the last quarter. SG Americas Securities LLC acquired a new position in BKV in the 4th quarter worth about $1,509,000. Geode Capital Management LLC increased its position in BKV by 40.4% in the 4th quarter. Geode Capital Management LLC now owns 556,539 shares of the company’s stock worth $15,114,000 after purchasing an additional 160,171 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new position in BKV in the 4th quarter worth about $52,000. Finally, Police & Firemen s Retirement System of New Jersey increased its position in BKV by 34.3% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 5,701 shares of the company’s stock worth $155,000 after purchasing an additional 1,455 shares during the last quarter.

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.