BKV (NYSE:BKV) Shares Gap Down - Here's Why

Key Points

• BKV shares gapped down at the open, falling from a prior close of $25.95 to $25.11 before trading around $25.58.
• Analyst sentiment remains mostly positive, with eight Buy ratings and two Hold ratings, though some firms cut price targets and Weiss Ratings downgraded the stock to Hold. The consensus price target is $33.62.
• The company’s latest earnings missed EPS estimates at $0.22 versus $0.36 expected, even as revenue came in above forecasts at $432.85 million. Insiders and institutions have also been active, including an insider sale and several hedge fund stake changes.

BKV Corporation (NYSE:BKV - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $25.95, but opened at $25.11. BKV shares last traded at $25.5760, with a volume of 52,021 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BKV. Truist Financial lowered their price objective on shares of BKV from $37.00 to $34.00 and set a "buy" rating on the stock in a report on Friday, July 10th. Weiss Ratings cut shares of BKV from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 27th. Citigroup decreased their target price on shares of BKV from $36.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, June 11th. Wall Street Zen lowered shares of BKV from a "sell" rating to a "strong sell" rating in a report on Saturday, May 16th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $34.00 price target on shares of BKV in a research report on Friday, July 10th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, BKV presently has a consensus rating of "Moderate Buy" and an average price target of $33.62.

BKV Price Performance

The firm has a market capitalization of $2.82 billion, a PE ratio of 7.83 and a beta of 1.03. The business has a 50-day moving average of $26.57 and a 200 day moving average of $27.98. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.47.

BKV (NYSE:BKV - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.14). BKV had a net margin of 21.71% and a return on equity of 6.43%. The company had revenue of $432.85 million for the quarter, compared to the consensus estimate of $337.63 million. As a group, research analysts anticipate that BKV Corporation will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling at BKV

In related news, insider Eric S. Jacobsen sold 25,000 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $26.89, for a total transaction of $672,250.00. Following the transaction, the insider directly owned 227,843 shares in the company, valued at approximately $6,126,698.27. The trade was a 9.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.51% of the stock is owned by insiders.

Institutional Investors Weigh In On BKV

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

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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