BKV (NYSE:BKV) Shares Gap Down – Here’s What Happened

BKV Corporation (NYSE:BKV)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $26.76, but opened at $25.12. BKV shares last traded at $23.9260, with a volume of 424,347 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BKV. Susquehanna lowered their target price on BKV from $37.00 to $35.00 and set a “positive” rating on the stock in a report on Tuesday, July 21st. Truist Financial cut their price target on shares of BKV from $34.00 to $33.00 and set a “buy” rating for the company in a report on Monday, August 10th. Wall Street Zen lowered shares of BKV from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BKV in a research note on Monday, August 24th. Finally, Zacks Research upgraded shares of BKV from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, BKV currently has an average rating of “Moderate Buy” and a consensus target price of $34.25.

BKV Stock Up 3.3%

The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 9.08 and a beta of 1.06. The company has a quick ratio of 1.10, a current ratio of 1.15 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $25.35 and a 200-day moving average price of $27.09.

BKV (NYSE:BKV) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.21. The business had revenue of $465.54 million during the quarter, compared to analyst estimates of $355.25 million. BKV had a return on equity of 6.67% and a net margin of 17.73%. As a group, equities analysts anticipate that BKV Corporation will post 1.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BKV news, SVP Javier Hinojosa sold 12,377 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $25.73, for a total value of $318,460.21. Following the completion of the transaction, the senior vice president directly owned 84,276 shares in the company, valued at $2,168,421.48. This trade represents a 12.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Tameron sold 4,321 shares of BKV stock in a transaction that occurred on Thursday, August 20th. The stock was 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,198 shares of company stock worth $733,271 over the last ninety days. 2.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BKV

A number of institutional investors have recently bought and sold shares of the business. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of BKV in the 4th quarter valued at about $52,000. Police & Firemen s Retirement System of New Jersey lifted its position in shares of BKV by 34.3% in 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 last quarter. PEAK6 LLC bought a new stake in BKV during the second quarter worth approximately $270,000. Arizona State Retirement System bought a new stake in shares of BKV during the 2nd quarter worth $289,000. Finally, Jupiter Topco LLC acquired a new stake in shares of BKV in the second quarter valued at about $446,000.

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.