BKV Corporation (NYSE:BKV) Sees Large Decline in Short Interest

BKV Corporation (NYSE:BKV) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totaling 3,820,363 shares, a drop of 17.5% from the March 31st total of 4,631,566 shares. Based on an average daily trading volume, of 813,306 shares, the days-to-cover ratio is currently 4.7 days. Currently, 3.6% of the shares of the stock are short sold.

Insiders Place Their Bets

In related news, CFO David Tameron sold 7,300 shares of the firm’s stock in a transaction dated 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 owned 61,925 shares of the company’s stock, valued at $1,839,791.75. This trade represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BKV

Several hedge funds have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey lifted its stake in BKV by 34.3% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 5,701 shares of the company’s stock worth $155,000 after acquiring an additional 1,455 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new stake in BKV in the 4th quarter worth about $52,000. Strs Ohio purchased a new stake in BKV in the 3rd quarter worth about $278,000. SG Americas Securities LLC purchased a new stake in BKV in the 4th quarter worth about $1,509,000. Finally, Cooper Creek Partners Management LLC lifted its stake in BKV by 35.6% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 461,657 shares of the company’s stock worth $10,678,000 after acquiring an additional 121,082 shares in the last quarter.

BKV Trading Down 0.8%

Shares of NYSE:BKV traded down $0.24 during midday trading on Friday, reaching $31.29. The company had a trading volume of 723,573 shares, compared to its average volume of 774,089. The company has a fifty day simple moving average of $29.04 and a two-hundred day simple moving average of $27.39. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 16.05 and a beta of 1.37. 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 has a 1-year low of $17.82 and a 1-year high of $32.81.

BKV (NYSE:BKV) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $268.05 million. BKV had a return on equity of 7.91% and a net margin of 17.16%. Research analysts predict that BKV will post 2.22 earnings per share for the current year.

Wall Street Analyst Weigh In

BKV has been the subject of several research reports. Jefferies Financial Group decreased their target price on BKV from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Truist Financial initiated coverage on BKV in a research note on Tuesday, March 24th. They set a “buy” rating and a $37.00 target price for the company. Wall Street Zen cut BKV from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Roth Mkm reaffirmed a “buy” rating and set a $32.00 target price on shares of BKV in a research note on Thursday, February 5th. Finally, Zacks Research raised BKV from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, BKV has an average rating of “Moderate Buy” and a consensus target price of $33.56.

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.