BKV (NYSE:BKV) Hits New 12-Month High – Here’s Why

Shares of BKV Corporation (NYSE:BKV) reached a new 52-week high during trading on Monday . The stock traded as high as $30.94 and last traded at $30.5480, with a volume of 103567 shares traded. The stock had previously closed at $30.31.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BKV. Barclays assumed coverage on BKV in a report on Thursday, November 13th. They set an “overweight” rating and a $32.00 price objective on the stock. Roth Mkm reissued a “buy” rating and issued a $32.00 price target on shares of BKV in a research note on Thursday, February 5th. KeyCorp restated an “overweight” rating and issued a $34.00 price target on shares of BKV in a report on Thursday, February 5th. Zacks Research downgraded shares of BKV from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of BKV in a research report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.86.

BKV Stock Up 3.9%

The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 60.43 and a beta of 1.60. The firm has a 50 day moving average price of $27.75 and a two-hundred day moving average price of $24.64.

BKV (NYSE:BKV) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.16 by $0.34. BKV had a net margin of 5.67% and a return on equity of 6.91%. The firm had revenue of $199.23 million for the quarter, compared to analyst estimates of $234.36 million. On average, equities analysts expect that BKV Corporation will post -1.82 earnings per share for the current fiscal year.

BKV declared that its Board of Directors has approved a share buyback program on Thursday, December 18th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On BKV

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey raised its stake in shares of BKV by 37.9% during 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 purchasing an additional 1,166 shares during the period. SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of BKV in the fourth quarter valued at $52,000. Strs Ohio acquired a new stake in BKV during the 3rd quarter valued at $278,000. Geode Capital Management LLC increased its stake in BKV by 13.9% during the 2nd quarter. Geode Capital Management LLC now owns 376,232 shares of the company’s stock worth $9,076,000 after buying an additional 45,989 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in BKV during the 4th quarter worth $1,509,000.

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. BKV Corporation, LLC operates as a subsidiary of Banpu North America Corporation.