BKV Corporation (NYSE:BKV) Short Interest Update

BKV Corporation (NYSE:BKV) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 4,677,757 shares, a growth of 19.4% from the December 15th total of 3,919,243 shares. Based on an average daily volume of 823,446 shares, the days-to-cover ratio is presently 5.7 days. Currently, 5.0% of the shares of the company are short sold. Currently, 5.0% of the shares of the company are short sold. Based on an average daily volume of 823,446 shares, the days-to-cover ratio is presently 5.7 days.

Analyst Ratings Changes

Several research analysts have recently weighed in on BKV shares. Barclays started coverage on shares of BKV in a research note on Thursday, November 13th. They set an “overweight” rating and a $32.00 price target on the stock. Susquehanna boosted their price target on BKV from $32.00 to $33.00 and gave the company a “positive” rating in a report on Tuesday, November 11th. Mizuho upped their price target on BKV from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Zacks Research downgraded BKV from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Finally, KeyCorp reiterated an “overweight” rating and set a $30.00 price objective on shares of BKV in a research note on Friday, December 19th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.14.

BKV Price Performance

Shares of BKV stock traded up $0.75 during trading hours on Monday, hitting $26.25. The company’s stock had a trading volume of 683,513 shares, compared to its average volume of 573,469. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.85. BKV has a 12-month low of $15.00 and a 12-month high of $29.65. The business has a 50 day moving average price of $26.96 and a two-hundred day moving average price of $23.77. The company has a market cap of $2.54 billion, a PE ratio of 20.04 and a beta of 1.60.

BKV (NYSE:BKV) last issued its earnings results on Monday, November 10th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.34. BKV had a return on equity of 6.91% and a net margin of 5.67%.The company had revenue of $199.23 million for the quarter, compared to the consensus estimate of $234.36 million. Analysts expect that BKV will post -1.82 earnings per share for the current fiscal year.

BKV declared that its board has approved a stock repurchase plan on Thursday, December 18th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at BKV

In related news, insider Lindsay B. Larrick sold 22,669 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $25.00, for a total value of $566,725.00. Following the transaction, the insider owned 143,672 shares of the company’s stock, valued at approximately $3,591,800. This trade represents a 13.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 39,187 shares of company stock valued at $963,375. 4.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BKV

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKV. Police & Firemen s Retirement System of New Jersey increased its stake in BKV by 37.9% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,246 shares of the company’s stock worth $102,000 after acquiring an additional 1,166 shares during the last quarter. Strs Ohio bought a new stake in BKV in the third quarter worth $278,000. SG Americas Securities LLC bought a new stake in BKV in the fourth quarter worth $1,509,000. Cooper Creek Partners Management LLC purchased a new stake in BKV during the second quarter valued at $8,215,000. Finally, Geode Capital Management LLC lifted its position in BKV by 13.9% during the second quarter. Geode Capital Management LLC now owns 376,232 shares of the company’s stock valued at $9,076,000 after purchasing an additional 45,989 shares during the last quarter.

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.