BKV (NYSE:BKV) Hits New 52-Week High – Still a Buy?

BKV Corporation (NYSE:BKV)’s share price reached a new 52-week high on Thursday . The company traded as high as $31.51 and last traded at $31.0250, with a volume of 163559 shares traded. The stock had previously closed at $29.98.

Analyst Ratings Changes

A number of research firms have recently commented on BKV. KeyCorp reiterated an “overweight” rating and issued a $34.00 price objective on shares of BKV in a research note on Thursday, February 5th. Weiss Ratings reissued a “hold (c)” rating on shares of BKV in a research report on Monday, December 29th. Susquehanna upped their target price on shares of BKV from $32.00 to $33.00 and gave the company a “positive” rating in a research note on Tuesday, November 11th. Mizuho raised their price target on shares of BKV from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, Zacks Research cut shares of BKV from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.86.

BKV Price Performance

The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 60.35 and a beta of 1.60. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.85 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $28.01 and its two-hundred day simple moving average is $25.10.

BKV announced that its board has authorized a share buyback plan on Thursday, December 18th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On BKV

Large investors have recently modified their holdings of the stock. SBI Okasan Asset Management Co.Ltd. acquired a new stake in BKV in the 4th quarter valued at $52,000. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of BKV by 37.9% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,246 shares of the company’s stock valued at $102,000 after purchasing an additional 1,166 shares in the last quarter. Strs Ohio bought a new stake in shares of BKV in the 3rd quarter worth about $278,000. SG Americas Securities LLC acquired a new stake in shares of BKV during the 4th quarter worth about $1,509,000. Finally, Cooper Creek Partners Management LLC bought a new position in BKV during the 2nd quarter valued at about $8,215,000.

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.