BKV (NYSE:BKV) Stock Gets Price Target Cut from Barclays

Key Points

• Barclays cut its BKV price target to $33 from $36 but maintained an “overweight” rating; the new target implies 73.27% upside from the stock’s then-current price.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $33.11. BKV shares traded at $19.05 on Friday, down 1.2%.
• BKV reported quarterly EPS of $0.36, slightly below the $0.38 consensus, while revenue of $478.37 million exceeded expectations of $395.18 million.

BKV (NYSE:BKV - Get Free Report) had its price target cut by equities researchers at Barclays from $36.00 to $33.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price target points to a potential upside of 73.27% from the stock's current price.

BKV has been the subject of several other research reports. Weiss Ratings lowered shares of BKV from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 23rd. Truist Financial decreased their price target on shares of BKV from $34.00 to $31.00 and set a "buy" rating on the stock in a report on Monday. Susquehanna decreased their price target on shares of BKV from $37.00 to $35.00 and set a "positive" rating on the stock in a report on Tuesday, July 21st. Raymond James Financial set a $29.00 price objective on shares of BKV in a research note on Tuesday, September 15th. Finally, Wall Street Zen downgraded BKV from a "sell" rating to a "strong sell" rating in a report on Saturday, October 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $33.11.

BKV Trading Down 1.2%

Shares of NYSE BKV traded down $0.23 on Friday, reaching $19.05. 53,602 shares of the company traded hands, compared to its average volume of 1,188,001. BKV has a fifty-two week low of $17.47 and a fifty-two week high of $32.81. The company has a 50 day moving average of $22.16 and a 200 day moving average of $26.15. The company has a current ratio of 3.25, a quick ratio of 3.18 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $2.06 billion, a PE ratio of 8.99 and a beta of 1.13.

BKV (NYSE:BKV - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.02). BKV had a return on equity of 6.12% and a net margin of 12.87%. The company had revenue of $478.37 million for the quarter, compared to analysts' expectations of $395.18 million. On average, equities research analysts forecast that BKV will post 1.37 earnings per share for the current fiscal year.

Insider Buying and Selling at BKV

In related news, SVP Javier Hinojosa sold 12,377 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $25.73, for a total transaction of $318,460.21. Following the completion of the sale, the senior vice president directly owned 84,276 shares of the company's stock, valued at approximately $2,168,421.48. This represents a 12.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Tameron sold 4,321 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $26.56, for a total value of $114,765.76. Following the completion of the sale, the chief financial officer owned 58,524 shares of the company's stock, valued at approximately $1,554,397.44. This represents a 6.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,578 shares of company stock worth $743,536 in the last 90 days. Company insiders own 2.51% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd boosted its position in shares of BKV by 36.4% in the third quarter. Covestor Ltd now owns 3,454 shares of the company's stock worth $74,000 after buying an additional 921 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of BKV by 23.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 4,160 shares of the company's stock valued at $88,000 after buying an additional 782 shares during the period. PEAK6 LLC purchased a new stake in shares of BKV during the 2nd quarter valued at about $270,000. Arizona State Retirement System acquired a new position in BKV during the 2nd quarter worth approximately $289,000. Finally, Jupiter Topco LLC acquired a new position in BKV during the 2nd quarter worth approximately $446,000.

BKV Company Profile

BKV Corporation is a U.S. energy company focused on natural gas production and related businesses. It operates in the Barnett Shale in Texas and the Marcellus Shale in Pennsylvania, producing natural gas for sale to customers and markets across the region. The company has expanded beyond production into natural gas gathering and processing, natural gas-fired power generation, and carbon capture and sequestration. These activities connect its gas operations with energy delivery and projects intended to reduce emissions.

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