Truist Financial Cuts BKV (NYSE:BKV) Price Target to $30.00

BKV (NYSE:BKV) had its price target trimmed by Truist Financial from $31.00 to $30.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also weighed in on BKV. Mizuho lifted their target price on shares of BKV from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Barclays boosted their target price on shares of BKV from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, KeyCorp lowered their price target on shares of BKV from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, March 4th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $28.00.

BKV Stock Up 2.2 %

NYSE BKV opened at $21.12 on Monday. The company’s 50-day simple moving average is $22.85. BKV has a 12-month low of $17.39 and a 12-month high of $26.78.

BKV (NYSE:BKV) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.11. The company had revenue of $119.78 million for the quarter, compared to analysts’ expectations of $183.77 million. Sell-side analysts predict that BKV will post -1.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BKV

Hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System purchased a new position in shares of BKV during the 4th quarter worth $26,000. Driehaus Capital Management LLC purchased a new stake in BKV in the 4th quarter worth $9,553,000. Geode Capital Management LLC purchased a new position in shares of BKV in the fourth quarter valued at about $7,728,000. Corebridge Financial Inc. bought a new position in shares of BKV in the fourth quarter worth about $170,000. Finally, Bank of New York Mellon Corp purchased a new position in BKV in the 4th quarter worth approximately $695,000.

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.