BKV (NYSE:BKV) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• BKV saw unusually high trading volume on Thursday—about 1,071,449 shares traded (up 20% from the prior session)—with the stock last at $29.81 (prior close $30.14).
• Analysts have a consensus rating of "Moderate Buy" with an average target of $33.25; most firms rate the stock Buy (targets up to $37), though one shop recently cut it to Sell.
• The company missed quarterly estimates (EPS $0.29 vs. $0.37 expected; revenue $259.9M vs. $268.1M) but authorized a $100 million share repurchase program (~3.9% of shares outstanding).

BKV Corporation (NYSE:BKV - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 1,071,449 shares changed hands during trading, an increase of 20% from the previous session's volume of 892,672 shares.The stock last traded at $29.81 and had previously closed at $30.14.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Roth Mkm restated a "buy" rating and issued a $32.00 target price on shares of BKV in a report on Thursday, February 5th. KeyCorp reiterated an "overweight" rating and set a $34.00 price target on shares of BKV in a report on Thursday, February 5th. Truist Financial assumed coverage on shares of BKV in a research note on Tuesday. They set a "buy" rating and a $37.00 price objective on the stock. Wall Street Zen cut shares of BKV from a "hold" rating to a "sell" rating in a research note on Saturday, March 21st. Finally, Citigroup reissued a "buy" rating and set a $36.00 price target on shares of BKV in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, BKV has an average rating of "Moderate Buy" and a consensus target price of $33.25.

BKV Price Performance

The company's 50-day moving average is $29.40 and its 200-day moving average is $26.39. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 15.39 and a beta of 1.54. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.78 and a quick ratio of 1.75.

BKV (NYSE:BKV - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.08). The company had revenue of $259.91 million for the quarter, compared to analyst estimates of $268.05 million. BKV had a return on equity of 7.91% and a net margin of 17.16%. On average, research analysts expect that BKV Corporation will post -1.82 earnings per share for the current year.

BKV declared that its Board of Directors has authorized a stock repurchase program on Thursday, December 18th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On BKV

Large investors have recently modified their holdings of the company. SBI Okasan Asset Management Co.Ltd. acquired a new stake in BKV during the 4th quarter worth approximately $52,000. Police & Firemen s Retirement System of New Jersey increased its position in shares of 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 worth $102,000 after acquiring an additional 1,166 shares in the last quarter. Strs Ohio acquired a new position in shares of BKV during the 3rd quarter valued at $278,000. SG Americas Securities LLC purchased a new stake in BKV during the 4th quarter worth $1,509,000. Finally, Cooper Creek Partners Management LLC purchased a new stake in BKV during the 2nd quarter worth $8,215,000.

BKV Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.