Insider Selling: BKV Corporation (NYSE:BKV) Insider Sells 15,000 Shares of Stock

BKV Corporation (NYSE:BKV) insider Lindsay B. Larrick sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $21.07, for a total transaction of $316,050.00. Following the completion of the sale, the insider now directly owns 245,528 shares in the company, valued at approximately $5,173,274.96. This represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

BKV Trading Down 0.4 %

Shares of BKV stock traded down $0.08 during trading on Wednesday, hitting $20.91. 197,260 shares of the stock traded hands, compared to its average volume of 463,578. BKV Corporation has a 52-week low of $17.39 and a 52-week high of $26.78. The firm’s fifty day moving average is $22.61.

BKV (NYSE:BKV) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.11. The business had revenue of $119.78 million during the quarter, compared to analysts’ expectations of $183.77 million. Analysts forecast that BKV Corporation will post -1.82 earnings per share for the current year.

Institutional Trading of BKV

A number of hedge funds have recently bought and sold shares of BKV. Driehaus Capital Management LLC purchased a new position in shares of BKV in the 4th quarter valued at $9,553,000. Geode Capital Management LLC purchased a new stake in shares of BKV during the fourth quarter valued at about $7,728,000. Bank of New York Mellon Corp bought a new stake in shares of BKV in the 4th quarter valued at about $695,000. Corebridge Financial Inc. purchased a new position in shares of BKV in the 4th quarter worth approximately $170,000. Finally, SG Americas Securities LLC bought a new position in shares of BKV during the 4th quarter worth approximately $157,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. KeyCorp reduced their price objective 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. Mizuho raised their price target on BKV from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Truist Financial cut their price objective on BKV from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Finally, Barclays lifted their target price on BKV from $24.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $28.00.

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.