BKV (NYSE:BKV) Issues Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Key Points

• BKV (NYSE:BKV) reported a quarterly earnings per share (EPS) of $0.39, exceeding analysts' expectations by $0.15.
• The company's stock rose by 5.5% following the earnings announcement, reaching a price of $21.17.
• BKV has received positive ratings from multiple analysts, with an average price target of $28.25 and a majority rating of "Buy".

BKV (NYSE:BKV - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.24, Zacks reports. The firm had revenue of $322.04 million for the quarter, compared to the consensus estimate of $224.05 million.

BKV Price Performance

Shares of BKV traded up $1.29 on Tuesday, reaching $21.35. 781,819 shares of the stock traded hands, compared to its average volume of 426,848. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.39 and a current ratio of 0.41. BKV has a 12 month low of $15.00 and a 12 month high of $26.78. The stock's 50-day moving average price is $22.15 and its 200-day moving average price is $21.18.

Analyst Upgrades and Downgrades

BKV has been the topic of a number of recent research reports. Barclays raised their target price on BKV from $29.00 to $30.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Evercore ISI raised their price target on BKV from $20.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $28.25.

Insider Activity

In related news, insider Ethan Ngo sold 64,998 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $23.00, for a total value of $1,494,954.00. Following the sale, the insider owned 112,675 shares of the company's stock, valued at $2,591,525. The trade was a 36.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lindsay B. Larrick sold 10,000 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $21.62, for a total value of $216,200.00. Following the completion of the transaction, the insider directly owned 200,528 shares in the company, valued at approximately $4,335,415.36. This represents a 4.75% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 126,448 shares of company stock worth $2,851,651. Company insiders own 4.11% of the company's stock.

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.