BKV (NYSE:BKV) Sets New 1-Year High – Should You Buy?
by Sarita Garza · The Markets DailyShares of BKV Corporation (NYSE:BKV – Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $31.51 and last traded at $31.0250, with a volume of 163559 shares. The stock had previously closed at $29.98.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. Barclays assumed coverage on shares of BKV in a report on Thursday, November 13th. They set an “overweight” rating and a $32.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of BKV in a research note on Monday, December 29th. Mizuho raised their price objective on shares of BKV from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. KeyCorp reissued an “overweight” rating and set a $34.00 target price on shares of BKV in a report on Thursday, February 5th. Finally, Susquehanna increased their target price on BKV from $32.00 to $33.00 and gave the stock a “positive” rating in a research report on Tuesday, November 11th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.86.
Check Out Our Latest Research Report on BKV
BKV Stock Performance
The firm has a market capitalization of $2.99 billion, a PE ratio of 59.19 and a beta of 1.60. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $27.90 and a 200 day moving average of $24.98.
BKV announced that its Board of Directors has initiated a share buyback plan on Thursday, December 18th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Hedge Funds Weigh In On BKV
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cooper Creek Partners Management LLC purchased a new stake in shares of BKV during the 2nd quarter valued at $8,215,000. Geode Capital Management LLC grew its position in BKV by 13.9% in the second quarter. Geode Capital Management LLC now owns 376,232 shares of the company’s stock worth $9,076,000 after acquiring an additional 45,989 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its stake in BKV by 37.9% in the second 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 last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new stake in BKV during the fourth quarter valued at about $52,000. Finally, SG Americas Securities LLC bought a new stake in BKV during the fourth quarter worth about $1,509,000.
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. BKV Corporation, LLC operates as a subsidiary of Banpu North America Corporation.