BKV (NYSE:BKV) Hits New 1-Year High – Here’s Why

BKV Corporation (NYSE:BKV) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $32.81 and last traded at $32.0170, with a volume of 190271 shares changing hands. The stock had previously closed at $31.33.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Zacks Research cut shares of BKV from a “hold” rating to a “strong sell” rating in a research report on Thursday. Roth Mkm reiterated a “buy” rating and issued a $32.00 target price on shares of BKV in a report on Thursday, February 5th. KeyCorp restated an “overweight” rating and set a $34.00 target price on shares of BKV in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BKV in a report on Monday, December 29th. Finally, Barclays began coverage on BKV in a research note on Thursday, November 13th. They set an “overweight” rating and a $32.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BKV currently has an average rating of “Moderate Buy” and an average target price of $31.86.

BKV Stock Performance

The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.27. The stock has a market cap of $3.03 billion, a P/E ratio of 16.02 and a beta of 1.53. The firm’s 50-day moving average is $28.39 and its two-hundred day moving average is $25.50.

BKV (NYSE:BKV) last posted its earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.08). BKV had a net margin of 17.16% and a return on equity of 8.43%. The company had revenue of $259.91 million for the quarter, compared to the consensus estimate of $268.05 million. As a group, research analysts expect that BKV Corporation will post -1.82 EPS for the current year.

BKV announced that its Board of Directors has authorized a stock repurchase plan on Thursday, December 18th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of BKV

A number of hedge funds have recently bought and sold shares of the stock. Cooper Creek Partners Management LLC acquired a new position in BKV in the second quarter worth about $8,215,000. Geode Capital Management LLC raised its stake in BKV by 13.9% during the second quarter. Geode Capital Management LLC now owns 376,232 shares of the company’s stock worth $9,076,000 after acquiring an additional 45,989 shares in the last quarter. 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 position in BKV during the 3rd quarter valued at about $278,000. Finally, SG Americas Securities LLC acquired a new position in BKV in the fourth quarter valued at about $1,509,000.

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.