BKV (NYSE:BKV) Stock Price Down 5.4% – Time to Sell?

BKV Corporation (NYSE:BKV)’s stock price dropped 5.4% on Friday. The stock traded as low as $21.87 and last traded at $21.8260. 570,481 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 1,060,906 shares. The stock had previously closed at $23.08.

Analysts Set New Price Targets

BKV has been the topic of several research analyst reports. Susquehanna reduced their price target on shares of BKV from $37.00 to $35.00 and set a “positive” rating on the stock in a research report on Tuesday, July 21st. Zacks Research upgraded shares of BKV from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Jefferies Financial Group reaffirmed a “buy” rating and set a $34.00 price objective on shares of BKV in a research report on Friday, July 10th. Citigroup reduced their target price on BKV from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, June 11th. Finally, Truist Financial lowered their target price on BKV from $34.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.56.

BKV Trading Down 6.1%

The stock has a market cap of $2.37 billion, a PE ratio of 7.91 and a beta of 1.06. The company has a quick ratio of 1.10, a current ratio of 1.15 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average price is $24.76 and its 200 day moving average price is $26.58.

BKV (NYSE:BKV) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.21. BKV had a return on equity of 6.67% and a net margin of 17.73%.The business had revenue of $465.54 million for the quarter, compared to analysts’ expectations of $355.25 million. On average, sell-side analysts forecast that BKV Corporation will post 1.62 EPS for the current year.

Insider Activity at BKV

In other news, CFO David Tameron sold 1,500 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $25.63, for a total transaction of $38,445.00. Following the completion of the sale, the chief financial officer owned 57,024 shares of the company’s stock, valued at $1,461,525.12. This represents a 2.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Javier Hinojosa sold 12,377 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $25.73, for a total transaction of $318,460.21. Following the completion of the transaction, the senior vice president owned 84,276 shares in the company, valued at $2,168,421.48. The trade was a 12.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 worth $733,271. 2.51% of the stock is owned by insiders.

Hedge Funds Weigh In On BKV

A number of hedge funds have recently made changes to their positions in BKV. BlackRock Inc. purchased a new position in shares of BKV in the second quarter worth $74,241,000. Cooper Creek Partners Management LLC boosted its holdings in shares of BKV by 24.7% during the 1st quarter. Cooper Creek Partners Management LLC now owns 2,103,230 shares of the company’s stock valued at $59,984,000 after purchasing an additional 416,281 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of BKV in the second quarter worth about $32,689,000. Value Aligned Research Advisors LLC grew its holdings in BKV by 110.5% during the 2nd quarter. Value Aligned Research Advisors LLC now owns 679,899 shares of the company’s stock valued at $18,602,000 after buying an additional 356,848 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in BKV during the 2nd quarter valued at approximately $16,177,000.

About BKV

BKV Corporation is an energy company focused on the development, production and marketing of natural gas and related energy products. Its operations include upstream exploration and production, as well as midstream activities that support the gathering, processing and transportation of natural gas.

The company has also pursued lower-carbon energy initiatives, including carbon capture, utilization and storage projects designed to reduce emissions associated with natural gas production. BKV’s activities are primarily concentrated in major U.S.