BKV (NYSE:BKV) Upgraded by Evercore to “Strong-Buy” Rating

BKV (NYSE:BKV) was upgraded by Evercore to a “strong-buy” rating in a research note issued on Friday, Zacks reports.

A number of other research firms have also recently commented on BKV. Weiss Ratings cut BKV from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Susquehanna reduced their price objective on BKV from $37.00 to $35.00 and set a “positive” rating for the company in a research report on Tuesday, July 21st. Raymond James Financial set a $29.00 price target on shares of BKV in a research report on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $34.00 price objective on shares of BKV in a research report on Friday, July 10th. Finally, Truist Financial dropped their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, BKV presently has an average rating of “Moderate Buy” and an average price target of $33.56.

BKV Trading Up 0.8%

NYSE:BKV opened at $22.97 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.45. BKV has a 12 month low of $20.08 and a 12 month high of $32.81. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 8.38 and a beta of 1.06. The company has a 50-day moving average price of $24.97 and a 200-day moving average price of $26.84.

BKV (NYSE:BKV) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.21. BKV had a return on equity of 6.67% and a net margin of 17.73%.The company had revenue of $465.54 million for the quarter, compared to analysts’ expectations of $355.25 million. Equities analysts predict that BKV will post 1.62 EPS for the current year.

Insider Activity

In related news, insider Lindsay B. Larrick sold 10,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $26.16, for a total transaction of $261,600.00. Following the completion of the transaction, the insider directly owned 83,925 shares of the company’s stock, valued at approximately $2,195,478. This represents a 10.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $26.56, for a total value of $114,765.76. Following the transaction, the chief financial officer directly owned 58,524 shares of the company’s stock, valued at approximately $1,554,397.44. The trade was a 6.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 90 days. Corporate insiders own 2.51% of the company’s stock.

Institutional Trading of BKV

Several hedge funds have recently modified their holdings of BKV. Squarepoint Ops LLC boosted its position in shares of BKV by 87.7% during the 2nd quarter. Squarepoint Ops LLC now owns 301,461 shares of the company’s stock valued at $8,248,000 after acquiring an additional 140,835 shares during the last quarter. Arizona State Retirement System bought a new stake in BKV in the second quarter worth $289,000. HighTower Advisors LLC bought a new stake in BKV in the second quarter worth $677,000. Moore Capital Management LP purchased a new stake in BKV during the second quarter valued at $2,001,000. Finally, IMC Chicago LLC purchased a new stake in BKV during the second quarter valued at $662,000.

BKV Company Profile

BKV Corporation is an energy company focused on the development, production and marketing of natural gas and related energy products. Its operations include upstream exploration and production, as well as midstream activities that support the gathering, processing and transportation of natural gas.

The company has also pursued lower-carbon energy initiatives, including carbon capture, utilization and storage projects designed to reduce emissions associated with natural gas production. BKV’s activities are primarily concentrated in major U.S.