BKV (NYSE:BKV) Hits New 52-Week Low – Here’s Why

BKV Corporation (NYSE:BKV)’s share price reached a new 52-week low on Friday . The stock traded as low as $17.15 and last traded at $17.17, with a volume of 88047 shares traded. The stock had previously closed at $20.37.

Analysts Set New Price Targets

Several research firms have weighed in on BKV. Barclays raised their price target on BKV from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Truist Financial reduced their price objective on shares of BKV from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Mizuho raised their target price on BKV from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Finally, KeyCorp reduced their target price on shares of BKV from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 4th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $28.00.

BKV Stock Down 17.5 %

The company has a 50 day moving average price of $22.06.

BKV (NYSE:BKV) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate 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. As a group, equities analysts predict that BKV Corporation will post -1.82 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Lindsay B. Larrick sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $21.07, for a total transaction of $316,050.00. Following the sale, the insider now owns 245,528 shares of the company’s stock, valued at $5,173,274.96. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of BKV

Institutional investors have recently modified their holdings of the company. California State Teachers Retirement System acquired a new position in shares of BKV during the fourth quarter valued at about $26,000. SG Americas Securities LLC acquired a new position in shares of BKV in the 4th quarter valued at $157,000. Corebridge Financial Inc. purchased a new stake in BKV during the fourth quarter worth $170,000. Bank of New York Mellon Corp purchased a new position in BKV in the fourth quarter valued at $695,000. Finally, Geode Capital Management LLC acquired a new position in shares of BKV in the fourth quarter worth about $7,728,000.

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.