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BKV (NYSE:BKV) Shares Gap Up - Here's What Happened

BKV logo with Energy background

Key Points

  • BKV Corporation's stock price gapped up from $20.06 to $21.62 before market opening, currently trading at $21.12.
  • Analysts have a positive outlook on BKV, with target price upgrades from Evercore ISI and Barclays, leading to an average target price of $28.25.
  • Insider transactions reveal decreased positions with notable sales of 116,448 shares valued at $2,635,451 in the last quarter.
  • Looking to export and analyze BKV data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

BKV Corporation (NYSE:BKV - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $20.06, but opened at $21.62. BKV shares last traded at $21.12, with a volume of 52,354 shares changing hands.

Wall Street Analyst Weigh In

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

View Our Latest Report on BKV

BKV Price Performance

The company has a quick ratio of 0.39, a current ratio of 0.41 and a debt-to-equity ratio of 0.13. The firm's 50 day moving average is $22.15 and its 200-day moving average is $21.18.

BKV (NYSE:BKV - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.26. The business had revenue of $216.13 million for the quarter, compared to analyst estimates of $223.20 million. Equities analysts forecast that BKV Corporation will post -1.82 earnings per share for the current year.

Insider Buying and Selling at BKV

In related news, insider Eric S. Jacobsen sold 31,350 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $22.02, for a total transaction of $690,327.00. Following the completion of the sale, the insider owned 257,903 shares in the company, valued at $5,679,024.06. This trade represents a 10.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lindsay B. Larrick sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $23.13, for a total transaction of $231,300.00. Following the sale, the insider directly owned 210,528 shares of the company's stock, valued at approximately $4,869,512.64. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,448 shares of company stock valued at $2,635,451 in the last quarter. Corporate insiders own 4.11% of the company's stock.

Hedge Funds Weigh In On BKV

Large investors have recently modified their holdings of the stock. Driehaus Capital Management LLC acquired a new position in BKV in the fourth quarter valued at approximately $9,553,000. Geode Capital Management LLC acquired a new position in BKV during the fourth quarter valued at approximately $7,728,000. Quantbot Technologies LP acquired a new position in BKV during the first quarter valued at approximately $1,605,000. Corebridge Financial Inc. acquired a new position in BKV during the fourth quarter valued at approximately $170,000. Finally, Bank of New York Mellon Corp grew its holdings in BKV by 21.2% during the first quarter. Bank of New York Mellon Corp now owns 35,453 shares of the company's stock valued at $745,000 after purchasing an additional 6,209 shares during the period.

About BKV

(Get Free Report)

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.

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