BKV (NYSE:BKV) Sets New 12-Month High – What’s Next?

BKV Corporation (NYSE:BKV)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $31.51 and last traded at $31.0250, with a volume of 163559 shares traded. The stock had previously closed at $29.98.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BKV shares. KeyCorp reissued an “overweight” rating and set a $34.00 price target on shares of BKV in a report on Thursday, February 5th. Weiss Ratings reissued a “hold (c)” rating on shares of BKV in a report on Monday, December 29th. Zacks Research cut shares of BKV from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Mizuho upped their target price on BKV from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $32.00 target price on shares of BKV in a research report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, BKV has a consensus rating of “Moderate Buy” and an average price target of $31.86.

BKV Trading Up 2.8%

The company has a debt-to-equity ratio of 0.27, a current ratio of 0.85 and a quick ratio of 0.83. The firm has a market capitalization of $2.99 billion, a PE ratio of 59.19 and a beta of 1.60. The firm’s fifty day moving average is $27.90 and its two-hundred day moving average is $24.98.

BKV declared that its board has authorized a stock buyback program on Thursday, December 18th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of BKV

A number of large investors have recently added to or reduced their stakes in the stock. SBI Okasan Asset Management Co.Ltd. purchased a new position in BKV in the fourth quarter valued at about $52,000. Police & Firemen s Retirement System of New Jersey lifted 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 purchasing an additional 1,166 shares during the last quarter. Strs Ohio bought a new position in BKV during the third quarter valued at $278,000. SG Americas Securities LLC bought a new position in BKV during the fourth quarter valued at $1,509,000. Finally, Cooper Creek Partners Management LLC purchased a new stake in BKV in the second quarter worth $8,215,000.

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.