BKV (NYSE:BKV) Hits New 52-Week Low – Here’s What Happened

BKV Corporation (NYSE:BKV) shares reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $20.03 and last traded at $20.2790, with a volume of 693,767 shares trading hands. The stock had previously closed at $20.93.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BKV. Wall Street Zen cut shares of BKV from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 17th. Weiss Ratings downgraded BKV from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Evercore upgraded BKV to a “strong-buy” rating in a report on Friday, September 18th. Raymond James Financial set a $29.00 price objective on BKV in a research report on Tuesday, September 15th. Finally, Truist Financial boosted their target price on BKV from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $33.67.

BKV Stock Performance

The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.45. The company has a market cap of $2.09 billion, a PE ratio of 6.98 and a beta of 1.13. The firm’s 50-day simple moving average is $22.97 and its two-hundred day simple moving average is $26.46.

BKV (NYSE:BKV) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.21. The business had revenue of $465.54 million during the quarter, compared to analysts’ expectations of $355.25 million. BKV had a net margin of 17.73% and a return on equity of 6.67%. As a group, research analysts anticipate that BKV Corporation will post 1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BKV news, CFO David Tameron sold 4,321 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $26.56, for a total transaction of $114,765.76. Following the sale, the chief financial officer owned 58,524 shares in the company, valued at approximately $1,554,397.44. The trade was a 6.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 dated Friday, August 14th. The shares were sold at an average price of $26.16, for a total value of $261,600.00. Following the sale, the insider 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. Insiders sold 40,578 shares of company stock worth $1,005,136 in the last 90 days. Insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On BKV

Institutional investors and hedge funds have recently modified their holdings of the company. CenterBook Partners LP boosted its position in BKV by 62.1% in the third quarter. CenterBook Partners LP now owns 229,200 shares of the company’s stock valued at $4,891,000 after buying an additional 87,787 shares during the last quarter. Covestor Ltd lifted its stake in BKV by 36.4% during the 3rd quarter. Covestor Ltd now owns 3,454 shares of the company’s stock valued at $74,000 after acquiring an additional 921 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in BKV during the 3rd quarter valued at approximately $1,227,000. State of Alaska Department of Revenue boosted its holdings in shares of BKV by 23.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 4,160 shares of the company’s stock valued at $88,000 after acquiring an additional 782 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of BKV by 87.7% in 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.

BKV Company Profile

BKV Corporation is an independent energy company focused on the exploration, development and production of natural gas in the United States. The company’s operations are centered on unconventional shale resources, with activities that include drilling, well completion, production and management of natural gas assets.

In addition to its upstream operations, BKV is developing complementary energy businesses, including natural gas power generation and carbon capture, utilization and storage.