BKV (NYSE:BKV) Reaches New 52-Week High After Strong Earnings

BKV Corporation (NYSE:BKV) reached a new 52-week high during mid-day trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $26.80 and last traded at $26.4460, with a volume of 425159 shares trading hands. The stock had previously closed at $25.39.

The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.34. BKV had a positive return on equity of 3.21% and a negative net margin of 2.69%.The company had revenue of $277.86 million for the quarter, compared to the consensus estimate of $234.36 million.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BKV shares. Weiss Ratings restated a “sell (d-)” rating on shares of BKV in a research note on Wednesday, October 8th. Mizuho raised their price objective on shares of BKV from $30.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.17.

Insider Activity

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 transaction of $162,950.00. Following the completion of the sale, the insider directly owned 137,154 shares in the company, valued at $3,428,850. This trade represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 64,187 shares of company stock valued at $1,527,575 over the last ninety days. Company insiders own 4.11% of the company’s stock.

Hedge Funds Weigh In On BKV

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of BKV by 13.9% in the second quarter. Geode Capital Management LLC now owns 376,232 shares of the company’s stock valued at $9,076,000 after buying an additional 45,989 shares during the period. Cooper Creek Partners Management LLC bought a new stake in BKV in the second quarter valued at approximately $8,215,000. Quantbot Technologies LP bought a new position in BKV during the 1st quarter worth approximately $1,605,000. Bank of New York Mellon Corp lifted its position in shares of BKV by 21.2% in the 1st quarter. Bank of New York Mellon Corp now owns 35,453 shares of the company’s stock worth $745,000 after purchasing an additional 6,209 shares during the period. Finally, Strs Ohio bought a new stake in shares of BKV in the 3rd quarter valued at $278,000.

BKV Stock Performance

The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -132.53 and a beta of 1.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.56 and a quick ratio of 0.52. The company’s 50-day moving average price is $22.43 and its two-hundred day moving average price is $21.92.

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.