BKV (NYSE:BKV) Shares Gap Up – Still a Buy?

BKV Corporation (NYSE:BKV)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $22.05, but opened at $23.30. BKV shares last traded at $24.0130, with a volume of 767,801 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BKV shares. Susquehanna reduced their target price on shares of BKV from $37.00 to $35.00 and set a “positive” rating for the company in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of BKV from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 19th. Weiss Ratings cut BKV from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, September 14th. Evercore upgraded BKV to a “strong-buy” rating in a research report on Friday, September 18th. Finally, Truist Financial decreased their price objective on BKV from $34.00 to $33.00 and set a “buy” rating for the company in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.56.

BKV Trading Up 8.3%

The firm has a market capitalization of $2.61 billion, a P/E ratio of 8.73 and a beta of 1.13. The business’s 50 day moving average is $24.15 and its two-hundred day moving average is $26.17. The company has a quick ratio of 1.10, a current ratio of 1.15 and a debt-to-equity ratio of 0.45.

BKV (NYSE:BKV) last announced its earnings results on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.21. The firm had revenue of $465.54 million during the quarter, compared to analyst estimates of $355.25 million. BKV had a net margin of 17.73% and a return on equity of 6.67%. Analysts expect that BKV Corporation will post 1.62 EPS for the current year.

Insider Transactions at BKV

In related news, SVP Javier Hinojosa sold 7,428 shares of the firm’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $22.66, for a total transaction of $168,318.48. Following the transaction, the senior vice president owned 76,848 shares in the company, valued at $1,741,375.68. This trade represents a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay B. Larrick sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $26.16, for a total value of $261,600.00. Following the sale, the insider directly owned 83,925 shares in the company, valued at approximately $2,195,478. The trade was a 10.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 35,626 shares of company stock valued at $901,589. Company insiders own 2.51% of the company’s stock.

Hedge Funds Weigh In On BKV

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in BKV by 37.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,084 shares of the company’s stock worth $823,000 after acquiring an additional 8,144 shares in the last quarter. PEAK6 LLC bought a new position in shares of BKV during the 2nd quarter valued at about $270,000. Arizona State Retirement System bought a new position in shares of BKV during the 2nd quarter valued at about $289,000. IMC Chicago LLC grew its stake in shares of BKV by 100.0% in the 2nd quarter. IMC Chicago LLC now owns 24,205 shares of the company’s stock worth $662,000 after purchasing an additional 12,105 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new position in shares of BKV in the 2nd quarter worth approximately $446,000.

BKV Company Profile

BKV Corporation is an energy company focused on natural gas production and related energy-transition solutions. The company explores for, develops and produces natural gas and natural gas liquids, with operations primarily centered in major U.S. shale basins.

BKV’s activities include upstream oil and gas development, natural gas marketing and midstream services. The company also develops carbon capture, utilization and storage projects intended to reduce emissions associated with natural gas production and use, as well as renewable natural gas initiatives.

Based in Denver, Colorado, BKV serves U.S.