BKV Corporation (NYSE:BKV) Short Interest Update

BKV Corporation (NYSE:BKV) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totaling 4,677,757 shares, a growth of 19.4% from the December 15th total of 3,919,243 shares. Approximately 5.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 823,446 shares, the days-to-cover ratio is presently 5.7 days. Based on an average daily trading volume, of 823,446 shares, the days-to-cover ratio is presently 5.7 days. Approximately 5.0% of the shares of the stock are sold short.

BKV Trading Up 2.9%

Shares of BKV traded up $0.75 during trading hours on Monday, reaching $26.25. 683,513 shares of the company traded hands, compared to its average volume of 573,469. The stock’s fifty day moving average price is $26.96 and its 200 day moving average price is $23.77. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 20.04 and a beta of 1.60. BKV has a 12-month low of $15.00 and a 12-month high of $29.65.

BKV (NYSE:BKV) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.16 by $0.34. The company had revenue of $199.23 million for the quarter, compared to the consensus estimate of $234.36 million. BKV had a net margin of 5.67% and a return on equity of 6.91%. Sell-side analysts forecast that BKV will post -1.82 earnings per share for the current year.

BKV declared that its Board of Directors has approved a share buyback program on Thursday, December 18th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, insider Lindsay B. Larrick sold 6,518 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $25.00, for a total value of $162,950.00. Following the completion of the transaction, the insider owned 137,154 shares of the company’s stock, valued at approximately $3,428,850. This trade represents a 4.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 39,187 shares of company stock worth $963,375. 4.11% of the stock is currently owned by corporate insiders.

Institutional Trading of BKV

A number of large investors have recently modified their holdings of BKV. Police & Firemen s Retirement System of New Jersey grew its stake in BKV by 37.9% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,246 shares of the company’s stock worth $102,000 after purchasing an additional 1,166 shares in the last quarter. Strs Ohio purchased a new stake in shares of BKV in the 3rd quarter worth $278,000. SG Americas Securities LLC bought a new position in shares of BKV during the 4th quarter worth $1,509,000. Cooper Creek Partners Management LLC purchased a new position in shares of BKV during the second quarter valued at $8,215,000. Finally, Geode Capital Management LLC increased its stake in shares of BKV by 13.9% during the second quarter. Geode Capital Management LLC now owns 376,232 shares of the company’s stock valued at $9,076,000 after buying an additional 45,989 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BKV in a research note on Monday, December 29th. Susquehanna increased their price target on BKV from $32.00 to $33.00 and gave the company a “positive” rating in a report on Tuesday, November 11th. Roth Capital began coverage on shares of BKV in a report on Wednesday, January 7th. They issued a “buy” rating and a $31.00 target price for the company. Barclays assumed coverage on shares of BKV in a report on Thursday, November 13th. They set an “overweight” rating and a $32.00 price target on the stock. Finally, Mizuho increased their price objective 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. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.14.

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.