Key Points
- CFO David Tameron sold 7,300 shares on March 27 at an average price of $29.71 for proceeds of $216,883, reducing his ownership by 10.55% to 61,925 shares (about $1.84M).
- BKV missed its most recent quarter with EPS of $0.29 versus a $0.37 consensus and revenue of $259.91M versus $268.05M, and analysts project the company may post around -1.82 EPS for the current year.
- The board approved a $100M share buyback (up to ~3.9% of shares); the stock trades near $29.90 and carries an average analyst rating of "Moderate Buy" with a $33.25 target.
BKV Corporation (NYSE:BKV - Get Free Report) CFO David Tameron sold 7,300 shares of the company's stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $29.71, for a total transaction of $216,883.00. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
BKV Trading Up 1.3%
Shares of NYSE:BKV opened at $29.90 on Friday. The company has a market cap of $3.27 billion, a P/E ratio of 15.33 and a beta of 1.54. The stock's 50-day moving average is $29.55 and its 200-day moving average is $26.50. 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 Corporation has a 52-week low of $15.00 and a 52-week high of $32.81.
BKV (NYSE:BKV - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.08). BKV had a return on equity of 7.91% and a net margin of 17.16%.The business had revenue of $259.91 million during the quarter, compared to the consensus estimate of $268.05 million. Equities research analysts predict that BKV Corporation will post -1.82 earnings per share for the current year.
BKV announced that its Board of Directors has approved a share buyback program on Thursday, December 18th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Cooper Creek Partners Management LLC bought a new position in shares of BKV in the second quarter valued at about $8,215,000. Geode Capital Management LLC raised its position 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 valued at $9,076,000 after buying an additional 45,989 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in shares of BKV by 37.9% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,246 shares of the company's stock valued at $102,000 after acquiring an additional 1,166 shares during the period. SBI Okasan Asset Management Co.Ltd. bought a new stake in BKV during the fourth quarter worth about $52,000. Finally, SG Americas Securities LLC bought a new position in BKV in the fourth quarter valued at approximately $1,509,000.
Analyst Upgrades and Downgrades
Several research firms have issued reports on BKV. Citigroup reiterated a "buy" rating and set a $36.00 price objective on shares of BKV in a research note on Tuesday, March 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of BKV in a research report on Monday, December 29th. Roth Mkm reissued a "buy" rating and issued a $32.00 target price on shares of BKV in a research note on Thursday, February 5th. KeyCorp reissued an "overweight" rating and set a $34.00 price objective on shares of BKV in a research report on Thursday, February 5th. Finally, Mizuho boosted their target price on BKV from $33.00 to $36.00 and gave the company an "outperform" rating in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $33.25.
Check Out Our Latest Research Report on BKV
About BKV
(
Get Free Report)
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.
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