BKV Corporation (NYSE:BKV) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts rate BKV Corporation a “Moderate Buy”: Eight of ten analysts recommend buying the stock, while two rate it a hold. The average 12-month price target is $34.25, above the reported opening price of $24.29.
• BKV exceeded quarterly expectations: The company reported earnings of $0.46 per share versus the $0.25 consensus estimate and revenue of $465.54 million, ahead of the $355.25 million forecast.
• Institutional ownership expanded, while insiders sold shares: BlackRock and several other major investors established or increased positions in the second quarter, while company insiders sold 53,198 shares worth approximately $1.41 million during the last quarter.

BKV Corporation (NYSE:BKV - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the ten ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $34.25.

Several brokerages have recently issued reports on BKV. Barclays lifted their price objective on shares of BKV from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. Truist Financial reduced their target price on shares of BKV from $34.00 to $33.00 and set a "buy" rating for the company in a report on Monday, August 10th. Citigroup reduced their target price on shares of BKV from $36.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, June 11th. Weiss Ratings restated a "hold (c+)" rating on shares of BKV in a research report on Monday. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $34.00 price target on shares of BKV in a report on Friday, July 10th.

BKV Stock Up 1.0%

BKV opened at $24.29 on Thursday. BKV has a 12 month low of $20.08 and a 12 month high of $32.81. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.15 and a quick ratio of 1.10. The stock has a market cap of $2.66 billion, a P/E ratio of 8.86 and a beta of 1.08. The stock's 50 day moving average price is $25.53 and its 200 day moving average price is $27.51.

BKV (NYSE:BKV - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.21. BKV had a net margin of 17.73% and a return on equity of 6.67%. The company had revenue of $465.54 million during the quarter, compared to analyst estimates of $355.25 million. As a group, research analysts predict that BKV will post 1.77 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO David Tameron sold 4,321 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.56, for a total value of $114,765.76. Following the completion of the transaction, the chief financial officer owned 58,524 shares in the company, valued at $1,554,397.44. This trade represents a 6.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Javier Hinojosa sold 12,377 shares of BKV stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $25.73, for a total value of $318,460.21. Following the completion of the transaction, the senior vice president directly owned 84,276 shares in the company, valued at $2,168,421.48. This represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 53,198 shares of company stock worth $1,405,521. Company insiders own 2.51% of the company's stock.

Institutional Investors Weigh In On BKV

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of BKV in the 2nd quarter valued at approximately $74,241,000. William Blair Investment Management LLC purchased a new position in BKV during the 2nd quarter worth approximately $32,689,000. California State Teachers Retirement System grew its position in BKV by 7,331.5% during the 2nd quarter. California State Teachers Retirement System now owns 1,190,680 shares of the company's stock worth $32,577,000 after purchasing an additional 1,174,658 shares in the last quarter. Bank of America Corp DE acquired a new stake in BKV during the 2nd quarter valued at $16,177,000. Finally, Bank of New York Mellon Corp acquired a new stake in BKV during the 2nd quarter valued at $15,261,000.

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.

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