BKV (NYSE:BKV) Reaches New 12-Month High After Strong Earnings

BKV Corporation (NYSE:BKV)’s share price hit a new 52-week high during mid-day trading on Monday following a stronger than expected earnings report. The company traded as high as $26.80 and last traded at $26.4460, with a volume of 425159 shares. The stock had previously closed at $25.39.

The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.24. BKV had a positive return on equity of 3.21% and a negative net margin of 2.69%.The business had revenue of $322.04 million during the quarter, compared to analysts’ expectations of $224.05 million.

Analysts Set New Price Targets

Several analysts have recently weighed in on BKV shares. Mizuho lifted their target price on shares of BKV from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of BKV in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BKV has an average rating of “Moderate Buy” and an average target price of $28.17.

Insider Buying and Selling at BKV

In related news, insider Lindsay B. Larrick sold 6,518 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $25.00, for a total transaction of $162,950.00. Following the completion of the sale, the insider owned 137,154 shares in the company, valued at $3,428,850. This trade represents a 4.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 54,187 shares of company stock valued at $1,311,375. 4.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BKV

Hedge funds have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey boosted its stake in 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 during the last quarter. Strs Ohio acquired a new position in shares of BKV in the 3rd quarter valued at $278,000. Bank of New York Mellon Corp boosted its position in shares of BKV by 21.2% in the 1st quarter. Bank of New York Mellon Corp now owns 35,453 shares of the company’s stock worth $745,000 after purchasing an additional 6,209 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of BKV in the 1st quarter worth $1,605,000. Finally, Cooper Creek Partners Management LLC acquired a new stake in shares of BKV during the second quarter worth $8,215,000.

BKV Trading Up 0.7%

The business has a 50 day moving average of $22.47 and a 200 day moving average of $21.97. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -127.81 and a beta of 1.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.56 and a quick ratio of 0.52.

About BKV

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.