KeyCorp Issues Positive Forecast for BKV (NYSE:BKV) Stock Price

BKV (NYSE:BKV) had its target price lifted by equities research analysts at KeyCorp from $34.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 28.05% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Citigroup reiterated a “buy” rating and issued a $36.00 target price on shares of BKV in a report on Tuesday, March 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of BKV in a research note on Monday, December 29th. Mizuho boosted their target price on BKV from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Wall Street Zen raised BKV from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Zacks Research cut BKV from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.38.

BKV Price Performance

BKV stock opened at $27.33 on Thursday. The company has a market capitalization of $2.99 billion, a P/E ratio of 14.02 and a beta of 1.64. BKV has a 52-week low of $15.00 and a 52-week high of $32.81. The business has a 50-day simple moving average of $29.62 and a two-hundred day simple moving average of $26.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.75 and a current ratio of 1.78.

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

BKV announced that its Board of Directors has initiated a stock buyback program on Thursday, December 18th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other BKV news, CFO David Tameron sold 7,300 shares of the stock in a transaction on Friday, March 27th. The stock was sold at an average price of $29.71, for a total transaction of $216,883.00. Following the completion of the transaction, the chief financial officer directly owned 61,925 shares of the company’s stock, valued at approximately $1,839,791.75. This represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cooper Creek Partners Management LLC bought a new stake in BKV in the 2nd quarter valued at about $8,215,000. Geode Capital Management LLC increased its stake in shares of BKV by 13.9% in the second quarter. Geode Capital Management LLC now owns 376,232 shares of the company’s stock worth $9,076,000 after purchasing an additional 45,989 shares in the last quarter. Strs Ohio bought a new stake in shares of BKV in the third quarter valued at approximately $278,000. SG Americas Securities LLC purchased a new stake in shares of BKV during the 4th quarter valued at approximately $1,509,000. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of BKV during the 4th quarter valued at approximately $52,000.

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.