BKV (NYSE:BKV) Sees Strong Trading Volume – What’s Next?

Shares of BKV Corporation (NYSE:BKV) saw an uptick in trading volume on Thursday . 6,316,422 shares changed hands during mid-day trading, an increase of 563% from the previous session’s volume of 952,482 shares.The stock last traded at $23.6550 and had previously closed at $24.10.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BKV shares. Citigroup cut their price target on shares of BKV from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, June 11th. Truist Financial dropped their price target on BKV from $34.00 to $33.00 and set a “buy” rating for the company in a report on Monday, August 10th. Susquehanna dropped their target price on shares of BKV from $37.00 to $35.00 and set a “positive” rating for the company in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BKV in a research note on Monday, August 24th. Finally, Wall Street Zen cut shares of BKV from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 5th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, BKV has an average rating of “Moderate Buy” and a consensus target price of $34.25.

BKV Stock Up 1.1%

The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 8.90 and a beta of 1.06. The firm’s fifty day simple moving average is $25.40 and its 200 day simple moving average is $27.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.10 and a current ratio of 1.15.

BKV (NYSE:BKV) last released its earnings results on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.21. The firm had revenue of $465.54 million during the quarter, compared to analysts’ expectations of $355.25 million. BKV had a return on equity of 6.67% and a net margin of 17.73%. On average, sell-side analysts forecast that BKV Corporation will post 1.77 earnings per share for the current year.

Insider Activity at BKV

In other BKV news, SVP Javier Hinojosa sold 12,377 shares of BKV stock in a transaction on Friday, August 21st. The shares were sold at an average price of $25.73, for a total value of $318,460.21. Following the sale, the senior vice president directly owned 84,276 shares in the company, valued at approximately $2,168,421.48. The trade was a 12.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Tameron sold 4,321 shares of BKV stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $26.56, for a total value of $114,765.76. Following the completion of the sale, the chief financial officer directly owned 58,524 shares in the company, valued at approximately $1,554,397.44. This represents a 6.88% 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 90 days, insiders sold 28,198 shares of company stock valued at $733,271. Corporate insiders own 2.51% of the company’s stock.

Hedge Funds Weigh In On BKV

Large investors have recently modified their holdings of the stock. Squarepoint Ops LLC lifted its stake in shares of BKV by 87.7% during the 2nd quarter. Squarepoint Ops LLC now owns 301,461 shares of the company’s stock worth $8,248,000 after buying an additional 140,835 shares during the last quarter. Arizona State Retirement System bought a new position in BKV during the 2nd quarter worth $289,000. HighTower Advisors LLC acquired a new stake in BKV in the 2nd quarter worth about $677,000. California State Teachers Retirement System grew its position in BKV by 7,331.5% during the second quarter. California State Teachers Retirement System now owns 1,190,680 shares of the company’s stock worth $32,577,000 after buying an additional 1,174,658 shares in the last quarter. Finally, Moore Capital Management LP bought a new position in shares of BKV in the second quarter worth $2,001,000.

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. BKV Corporation, LLC operates as a subsidiary of Banpu North America Corporation.