BKV (NYSE:BKV) Trading Down 5.5% on Analyst Downgrade

BKV Corporation (NYSE:BKV) shares dropped 5.5% during trading on Wednesday after KeyCorp lowered their price target on the stock from $27.00 to $25.00. KeyCorp currently has an overweight rating on the stock. BKV traded as low as $18.08 and last traded at $18.13. Approximately 188,313 shares traded hands during trading, a decline of 60% from the average daily volume of 471,618 shares. The stock had previously closed at $19.17.

Several other equities analysts have also recently commented on BKV. Truist Financial raised their target price on shares of BKV from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Mizuho raised their price objective on shares of BKV from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Barclays upped 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. Finally, Susquehanna lifted their price target on BKV from $24.00 to $25.00 and gave the company a “positive” rating in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, BKV presently has an average rating of “Buy” and a consensus price target of $28.13.

Institutional Investors Weigh In On BKV

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of BKV during the fourth quarter worth $157,000. Corebridge Financial Inc. purchased a new position in BKV in the 4th quarter worth about $170,000. Bank of New York Mellon Corp acquired a new stake in BKV during the 4th quarter worth about $695,000. Geode Capital Management LLC purchased a new stake in BKV during the fourth quarter valued at about $7,728,000. Finally, Driehaus Capital Management LLC acquired a new position in shares of BKV in the fourth quarter worth about $9,553,000.

BKV Stock Performance

The company has a 50-day moving average of $23.72.

BKV (NYSE:BKV) last posted its quarterly earnings data 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 firm had revenue of $119.78 million for the quarter, compared to analysts’ expectations of $183.77 million. Sell-side analysts anticipate that BKV Corporation will post -1.82 EPS for the current fiscal year.

BKV Company Profile

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.