BKV (NYSE:BKV) Stock Rating Upgraded by Evercore

Key Points

• Evercore upgraded BKV to “strong buy,” while the broader analyst consensus remains “Moderate Buy,” with an average price target of $33.56.
• BKV reported quarterly EPS of $0.46, exceeding the $0.25 consensus estimate, while revenue reached $465.54 million versus expectations of $355.25 million.
• The stock opened at $22.97, below its 50-day and 200-day moving averages; insiders sold 28,198 shares worth approximately $733,271 during the last quarter.

BKV (NYSE:BKV - Get Free Report) was upgraded by Evercore to a "strong-buy" rating in a report issued on Friday, Zacks reports.

Several other analysts also recently commented on BKV. Raymond James Financial set a $29.00 price objective on shares of BKV in a research report on Tuesday. Weiss Ratings downgraded BKV from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday. Truist Financial cut their price target on shares of BKV from $34.00 to $33.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Susquehanna cut their price objective on BKV from $37.00 to $35.00 and set a "positive" rating on the stock in a research report on Tuesday, July 21st. Finally, Jefferies Financial Group reissued a "buy" rating and set a $34.00 target price on shares of BKV in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.56.

BKV Price Performance

Shares of BKV opened at $22.97 on Friday. The business has a 50-day moving average of $24.97 and a 200-day moving average of $26.84. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.15 and a quick ratio of 1.10. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 8.38 and a beta of 1.06. BKV has a 1 year low of $20.08 and a 1 year high of $32.81.

BKV (NYSE:BKV - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.25 by $0.21. BKV had a return on equity of 6.67% and a net margin of 17.73%.The business had revenue of $465.54 million for the quarter, compared to analysts' expectations of $355.25 million. As a group, equities research analysts anticipate that BKV will post 1.62 earnings per share for the current year.

Insider Buying and Selling

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 value of $318,460.21. Following the completion of the transaction, the senior vice president directly owned 84,276 shares in the company, valued at approximately $2,168,421.48. The trade was a 12.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 1,500 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $25.63, for a total value of $38,445.00. Following the transaction, the chief financial officer directly owned 57,024 shares in the company, valued at approximately $1,461,525.12. This represents a 2.56% 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. Over the last quarter, insiders have sold 28,198 shares of company stock worth $733,271. Corporate insiders own 2.51% of the company's stock.

Institutional Investors Weigh In On BKV

A number of institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC grew its holdings in shares of BKV by 87.7% during the 2nd quarter. Squarepoint Ops LLC now owns 301,461 shares of the company's stock valued at $8,248,000 after purchasing an additional 140,835 shares during the last quarter. Arizona State Retirement System bought a new stake in BKV in the second quarter worth $289,000. HighTower Advisors LLC bought a new stake in BKV in the second quarter worth $677,000. Moore Capital Management LP bought a new stake in BKV in the second quarter worth $2,001,000. Finally, IMC Chicago LLC purchased a new stake in BKV during the second quarter valued at about $662,000.

About BKV

BKV Corporation is an energy company focused on the development, production and marketing of natural gas and related energy products. Its operations include upstream exploration and production, as well as midstream activities that support the gathering, processing and transportation of natural gas.

The company has also pursued lower-carbon energy initiatives, including carbon capture, utilization and storage projects designed to reduce emissions associated with natural gas production. BKV's activities are primarily concentrated in major U.S.

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