BKV (NYSE:BKV) Hits New 52-Week Low - What's Next?

BKV Corporation (NYSE:BKV - Get Free Report)'s stock price hit a new 52-week low on Friday . The stock traded as low as $17.15 and last traded at $17.17, with a volume of 88047 shares changing hands. The stock had previously closed at $20.37.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BKV shares. Truist Financial dropped their price target on shares of BKV from $31.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. KeyCorp dropped their target price on shares of BKV from $27.00 to $25.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 4th. Barclays raised their price target on shares of BKV from $24.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Mizuho upped their price objective on BKV from $29.00 to $33.00 and gave the company an "outperform" rating in a research report on Monday, December 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, BKV has an average rating of "Buy" and a consensus price target of $28.00.

BKV Trading Up 8.1 %

The business's 50-day moving average is $21.35.

BKV (NYSE:BKV - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.11. The firm had revenue of $119.78 million for the quarter, compared to the consensus estimate of $183.77 million. On average, equities analysts forecast that BKV Corporation will post -1.82 earnings per share for the current fiscal year.

Remove Ads

Insiders Place Their Bets

In other BKV news, insider Lindsay B. Larrick sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $21.07, for a total transaction of $316,050.00. Following the completion of the sale, the insider now directly owns 245,528 shares of the company's stock, valued at approximately $5,173,274.96. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Tameron sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $20.03, for a total transaction of $100,150.00. Following the completion of the transaction, the chief financial officer now owns 47,779 shares in the company, valued at $957,013.37. The trade was a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,667 shares of company stock valued at $851,490.

Hedge Funds Weigh In On BKV

A number of institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new stake in BKV during the fourth quarter valued at about $695,000. SG Americas Securities LLC purchased a new position in shares of BKV during the 4th quarter valued at about $157,000. California State Teachers Retirement System bought a new position in shares of BKV during the 4th quarter valued at approximately $26,000. Driehaus Capital Management LLC purchased a new stake in BKV in the 4th quarter worth approximately $9,553,000. Finally, Geode Capital Management LLC bought a new stake in BKV during the 4th quarter worth approximately $7,728,000.

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.