BKV (NYSE:BKV) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Shares of BKV saw unusually-high trading volume of 1,625,008 shares (a 127% increase from the prior session) and last traded at $28.12, down about 1.7% from the previous close.
• Analyst coverage is mixed but generally positive, with an average MarketBeat rating of “Moderate Buy” and an average target of $32.38; notable notes include Mizuho raising its target to $36 (outperform) while Zacks cut to a strong sell.
• BKV missed quarterly estimates (EPS $0.29 vs. $0.37 expected; revenue ~$259.9M vs. $268.1M expected) but the board authorized a $100 million share buyback—up to about 3.9% of outstanding shares.

Shares of BKV Corporation (NYSE:BKV - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 1,625,008 shares traded hands during mid-day trading, an increase of 127% from the previous session's volume of 716,754 shares.The stock last traded at $28.12 and had previously closed at $28.94.

Wall Street Analyst Weigh In

BKV has been the topic of several recent research reports. Mizuho upped their price target on BKV from $33.00 to $36.00 and gave the stock an "outperform" rating in a research note on Friday, December 12th. Weiss Ratings reissued a "hold (c)" rating on shares of BKV in a research report on Monday, December 29th. Barclays began coverage on shares of BKV in a research report on Thursday, November 13th. They issued an "overweight" rating and a $32.00 target price on the stock. Zacks Research lowered shares of BKV from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 26th. Finally, Susquehanna lifted their price target on shares of BKV from $32.00 to $33.00 and gave the company a "positive" rating in a research report on Tuesday, November 11th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $32.38.

BKV Stock Down 1.7%

The firm has a market capitalization of $2.91 billion, a P/E ratio of 14.49 and a beta of 1.54. The company has a fifty day simple moving average of $28.85 and a 200 day simple moving average of $25.94. The company has a quick ratio of 0.83, a current ratio of 1.78 and a debt-to-equity ratio of 0.24.

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

BKV announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 18th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Institutional Trading of BKV

Several institutional investors have recently added to or reduced their stakes in the business. Police & Firemen s Retirement System of New Jersey boosted its stake in BKV by 34.3% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 5,701 shares of the company's stock valued at $155,000 after purchasing an additional 1,455 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of BKV in the fourth quarter worth $52,000. Geode Capital Management LLC lifted its holdings in shares of BKV by 40.4% during the fourth quarter. Geode Capital Management LLC now owns 556,539 shares of the company's stock valued at $15,114,000 after purchasing an additional 160,171 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of BKV during the fourth quarter valued at $1,509,000. Finally, Cooper Creek Partners Management LLC increased its holdings in BKV by 35.6% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 461,657 shares of the company's stock worth $10,678,000 after buying an additional 121,082 shares in the last quarter.

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.

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