BKV (NYSE:BKV) Hits New 52-Week High – Should You Buy?

BKV Corporation (NYSE:BKV) hit a new 52-week high on Thursday . The company traded as high as $30.73 and last traded at $29.7020, with a volume of 310600 shares. The stock had previously closed at $28.77.

Analyst Ratings Changes

BKV has been the subject of several research analyst reports. Roth Mkm began coverage on BKV in a research report on Wednesday, January 7th. They issued a “buy” rating and a $31.00 price objective for the company. Susquehanna lifted their target price on BKV from $32.00 to $33.00 and gave the stock a “positive” rating in a report on Tuesday, November 11th. Mizuho raised 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. Zacks Research downgraded shares of BKV from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. Finally, Barclays assumed coverage on shares of BKV in a report on Thursday, November 13th. They issued an “overweight” rating and a $32.00 price target for the company. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.14.

BKV Trading Up 4.4%

The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $27.13 and a 200 day moving average price of $24.05. The stock has a market capitalization of $2.91 billion, a PE ratio of 57.80 and a beta of 1.60.

BKV (NYSE:BKV) last released its quarterly earnings results on Monday, November 10th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.34. The business had revenue of $199.23 million during the quarter, compared to analyst estimates of $234.36 million. BKV had a return on equity of 6.91% and a net margin of 5.67%. Equities analysts expect that BKV Corporation will post -1.82 EPS for the current fiscal year.

BKV announced that its Board of Directors has approved a stock buyback plan on Thursday, December 18th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other BKV news, insider Lindsay B. Larrick sold 22,669 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $25.00, for a total value of $566,725.00. Following the completion of the sale, the insider directly owned 143,672 shares of the company’s stock, valued at approximately $3,591,800. This represents a 13.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 39,187 shares of company stock worth $963,375 in the last 90 days. 4.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BKV

Several hedge funds have recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of BKV by 37.9% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,246 shares of the company’s stock valued at $102,000 after acquiring an additional 1,166 shares in the last quarter. Strs Ohio purchased a new position in BKV in the third quarter worth $278,000. SG Americas Securities LLC bought a new position in BKV in the 4th quarter valued at $1,509,000. Cooper Creek Partners Management LLC purchased a new stake in shares of BKV during the 2nd quarter valued at $8,215,000. Finally, Geode Capital Management LLC raised its stake in shares of BKV by 13.9% during the 2nd quarter. Geode Capital Management LLC now owns 376,232 shares of the company’s stock worth $9,076,000 after purchasing an additional 45,989 shares during the period.

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. BKV Corporation, LLC operates as a subsidiary of Banpu North America Corporation.