Share Buyback Program Approved by BKV (NYSE:BKV)

BKV (NYSE:BKV) declared that its Board of Directors has initiated a share buyback plan on Thursday, December 18th, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BKV shares. Zacks Research raised shares of BKV from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 4th. Barclays began coverage on shares of BKV in a report on Thursday, November 13th. They set an “overweight” rating and a $32.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of BKV in a report on Monday. Mizuho upped their price objective on shares of BKV from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, KeyCorp raised their target price on BKV from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, BKV currently has an average rating of “Buy” and an average target price of $31.17.

BKV Price Performance

BKV stock traded down $0.21 during trading on Thursday, hitting $25.99. The stock had a trading volume of 1,048,730 shares, compared to its average volume of 1,067,862. The company’s 50-day moving average price is $24.97 and its two-hundred day moving average price is $23.24. BKV has a twelve month low of $15.00 and a twelve month high of $29.65. The stock has a market capitalization of $2.52 billion, a P/E ratio of 49.99 and a beta of 1.57. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.85 and a quick ratio of 0.83.

BKV (NYSE:BKV) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.16 by $0.34. BKV had a return on equity of 6.91% and a net margin of 5.67%.The firm had revenue of $199.23 million during the quarter, compared to the consensus estimate of $234.36 million. As a group, research analysts predict that BKV will post -1.82 EPS for the current fiscal year.

Insider Buying and Selling

In other BKV news, insider Lindsay B. Larrick sold 6,518 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $25.00, for a total value of $162,950.00. Following the transaction, the insider directly owned 137,154 shares of the company’s stock, valued at $3,428,850. This trade represents a 4.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 54,187 shares of company stock valued at $1,311,375. 4.11% of the stock is currently owned by corporate insiders.

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.