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

BKV Corporation (NYSE:BKV) shares gapped down prior to trading on Tuesday . The stock had previously closed at $28.22, but opened at $26.27. BKV shares last traded at $26.5620, with a volume of 1,117,584 shares changing hands.

Analyst Upgrades and Downgrades

BKV has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of BKV in a research note on Monday, November 24th. Barclays began coverage on shares of BKV in a research note on Thursday, November 13th. They set an “overweight” rating and a $32.00 price objective on the stock. Susquehanna upped their target price on BKV from $32.00 to $33.00 and gave the stock a “positive” rating in a research report on Tuesday, November 11th. KeyCorp increased their price target on BKV from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Finally, Mizuho lifted their price target on BKV from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.67.

BKV Stock Down 4.6%

The stock has a fifty day moving average of $23.87 and a 200-day moving average of $22.73. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 51.78 and a beta of 1.56. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27.

BKV (NYSE:BKV) last announced its earnings results 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 business had revenue of $199.23 million during the quarter, compared to the consensus estimate of $234.36 million. As a group, sell-side analysts expect that BKV Corporation will post -1.82 EPS for the current 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 dated Thursday, November 6th. The shares were sold at an average price of $25.00, for a total value of $162,950.00. Following the completion of the transaction, 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 filing with the SEC, which is available through this link. Insiders have sold 54,187 shares of company stock worth $1,311,375 over the last ninety days. 4.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BKV

Hedge funds have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey boosted its stake in BKV by 37.9% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,246 shares of the company’s stock worth $102,000 after purchasing an additional 1,166 shares during the period. Strs Ohio purchased a new stake in shares of BKV in the third quarter valued at $278,000. Quantbot Technologies LP purchased a new stake in shares of BKV in the first quarter valued at $1,605,000. Cooper Creek Partners Management LLC acquired a new stake in shares of BKV in the second quarter worth $8,215,000. Finally, Geode Capital Management LLC grew its holdings in shares of BKV by 13.9% during 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 in the last quarter.

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.