BKV (NYSE:BKV) Reaches New 52-Week High Following Strong Earnings

BKV Corporation (NYSE:BKV) reached 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 traded. The stock had previously closed at $25.39.

The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.34. BKV had a negative net margin of 2.69% and a positive return on equity of 3.21%. The business had revenue of $277.86 million for the quarter, compared to the consensus estimate of $234.36 million.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BKV shares. Mizuho boosted their price target on BKV from $30.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of BKV in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.17.

Insider Transactions at BKV

In other BKV news, insider Lindsay B. Larrick sold 22,669 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $25.00, for a total transaction of $566,725.00. Following the sale, the insider owned 143,672 shares in the company, valued at approximately $3,591,800. The trade was a 13.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 64,187 shares of company stock valued at $1,527,575 in the last quarter. Insiders own 4.11% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey lifted its position in shares of BKV by 37.9% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,246 shares of the company’s stock worth $102,000 after purchasing an additional 1,166 shares during the last quarter. Strs Ohio acquired a new stake in BKV in the 3rd quarter valued at approximately $278,000. Bank of New York Mellon Corp increased its position in 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 buying an additional 6,209 shares during the period. Quantbot Technologies LP bought a new position in BKV in the 1st quarter worth approximately $1,605,000. Finally, Cooper Creek Partners Management LLC acquired a new position in shares of BKV during the second quarter worth approximately $8,215,000.

BKV Stock Up 4.0%

The firm has a 50-day moving average price of $22.43 and a two-hundred day moving average price of $21.92. The company has a market capitalization of $2.24 billion, a P/E ratio of -132.53 and a beta of 1.70. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 0.13.

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.