BKV (NYSE:BKV) Rating Increased to Strong-Buy at Truist Financial

Truist Financial upgraded shares of BKV (NYSE:BKV) to a strong-buy rating in a research report released on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on BKV. KeyCorp restated an “overweight” rating and set a $34.00 price objective on shares of BKV in a research report on Thursday, February 5th. Wall Street Zen cut BKV from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup reissued a “buy” rating and set a $36.00 target price on shares of BKV in a research report on Tuesday, March 10th. Zacks Research downgraded BKV from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. Finally, Mizuho lifted their price objective on shares of BKV from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BKV currently has a consensus rating of “Moderate Buy” and an average price target of $33.25.

BKV Stock Performance

Shares of NYSE:BKV opened at $29.35 on Monday. The firm has a fifty day simple moving average of $29.31 and a two-hundred day simple moving average of $26.36. BKV has a 52 week low of $15.00 and a 52 week high of $32.81. The company has a quick ratio of 1.75, a current ratio of 1.78 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.21 billion, a P/E ratio of 15.05 and a beta of 1.54.

BKV (NYSE:BKV) last announced its earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.08). The business had revenue of $259.91 million for the quarter, compared to analysts’ expectations of $268.05 million. BKV had a net margin of 17.16% and a return on equity of 7.91%. On average, analysts expect that BKV will post -1.82 earnings per share for the current fiscal year.

BKV declared that its Board of Directors has initiated a stock buyback 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On BKV

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in BKV by 40.4% during the 4th quarter. Geode Capital Management LLC now owns 556,539 shares of the company’s stock valued at $15,114,000 after acquiring an additional 160,171 shares during the period. Cooper Creek Partners Management LLC increased its stake in BKV by 35.6% in the third quarter. Cooper Creek Partners Management LLC now owns 461,657 shares of the company’s stock worth $10,678,000 after purchasing an additional 121,082 shares during the period. SG Americas Securities LLC bought a new stake in shares of BKV during the fourth quarter worth $1,509,000. Strs Ohio bought a new stake in shares of BKV during the third quarter worth $278,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of BKV by 34.3% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 5,701 shares of the company’s stock valued at $155,000 after purchasing an additional 1,455 shares during the period.

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.