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

Evercore upgraded shares of BKV (NYSE:BKV) to a strong-buy rating in a report issued on Friday,Zacks reports.

BKV has been the subject of a number of other research reports. Barclays decreased their price objective on BKV from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday. Weiss Ratings cut BKV from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Zacks Research upgraded shares of BKV from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $34.00 target price on shares of BKV in a report on Friday, July 10th. Finally, Truist Financial decreased their price objective on shares of BKV from $34.00 to $33.00 and set a “buy” rating for the company in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.56.

BKV Price Performance

BKV stock opened at $22.97 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.15 and a quick ratio of 1.10. BKV has a 1 year low of $20.08 and a 1 year high of $32.81. The firm has a 50-day moving average of $24.97 and a 200 day moving average of $26.84. The company has a market cap of $2.51 billion, a P/E ratio of 8.38 and a beta of 1.06.

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

Insider Activity

In other BKV news, CFO David Tameron sold 1,500 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $25.63, for a total value of $38,445.00. Following the transaction, the chief financial officer directly owned 57,024 shares in the company, valued at approximately $1,461,525.12. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Javier Hinojosa sold 12,377 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $25.73, for a total transaction of $318,460.21. Following the sale, the senior vice president directly owned 84,276 shares of the company’s stock, valued at approximately $2,168,421.48. The trade was a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,198 shares of company stock valued at $733,271 in the last quarter. 2.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BKV

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new position in shares of BKV during the 2nd quarter valued at about $15,261,000. Value Aligned Research Advisors LLC lifted its holdings in BKV by 110.5% during the second quarter. Value Aligned Research Advisors LLC now owns 679,899 shares of the company’s stock valued at $18,602,000 after purchasing an additional 356,848 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of BKV in the second quarter worth approximately $32,689,000. BlackRock Inc. purchased a new stake in BKV in the 2nd quarter worth $74,241,000. Finally, SIR Capital Management L.P. bought a new stake in BKV during the second quarter valued at about $1,135,000.

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.