BKV (NYSE:BKV) Shares Down 6.9% Following Insider Selling

BKV Corporation (NYSE:BKV - Get Free Report) traded down 6.9% on Tuesday following insider selling activity. The stock traded as low as $22.51 and last traded at $22.46. 302,524 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 448,097 shares. The stock had previously closed at $24.12.

Specifically, insider Lindsay B. Larrick sold 10,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $23.13, for a total transaction of $231,300.00. Following the transaction, the insider directly owned 210,528 shares in the company, valued at $4,869,512.64. The trade was a 4.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

BKV has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on BKV from $31.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Barclays boosted their target price on BKV from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. KeyCorp cut their price target on BKV from $27.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. Finally, Evercore ISI lifted their price objective on shares of BKV from $20.00 to $26.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $28.13.

BKV Stock Performance

The stock has a 50 day moving average price of $21.66 and a two-hundred day moving average price of $21.69. 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 (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 firm had revenue of $216.13 million for the quarter, compared to the consensus estimate of $223.20 million. Equities research analysts predict that BKV Corporation will post -1.82 earnings per share for the current year.

Hedge Funds Weigh In On BKV

A number of hedge funds have recently bought and sold shares of the business. Driehaus Capital Management LLC bought a new stake in BKV in the 4th quarter valued at about $9,553,000. Geode Capital Management LLC bought a new stake in shares of BKV in the fourth quarter valued at approximately $7,728,000. Quantbot Technologies LP acquired a new stake in BKV during the first quarter worth approximately $1,605,000. Bank of New York Mellon Corp grew its position 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 worth $745,000 after buying an additional 6,209 shares in the last quarter. Finally, Corebridge Financial Inc. bought a new position in BKV during the 4th quarter worth $170,000.

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.