Insider Selling: BKV Corporation (NYSE:BKV) Insider Sells 21,667 Shares of Stock

BKV Corporation (NYSE:BKV) insider Ethan Ngo sold 21,667 shares of BKV stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $20.09, for a total transaction of $435,290.03. Following the transaction, the insider now directly owns 286,008 shares in the company, valued at $5,745,900.72. This trade represents a 7.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

BKV Stock Performance

Shares of NYSE:BKV opened at $17.18 on Friday. The stock’s 50-day simple moving average is $21.87. BKV Corporation has a 1 year low of $16.80 and a 1 year high of $26.78.

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

Hedge Funds Weigh In On BKV

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System purchased a new position in BKV in the fourth quarter worth approximately $26,000. SG Americas Securities LLC acquired a new stake in shares of BKV in the 4th quarter valued at $157,000. Corebridge Financial Inc. purchased a new stake in shares of BKV during the 4th quarter worth $170,000. Bank of New York Mellon Corp acquired a new position in shares of BKV during the fourth quarter worth $695,000. Finally, Geode Capital Management LLC purchased a new position in BKV in the fourth quarter valued at $7,728,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BKV shares. Mizuho upped their price objective on BKV from $29.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Truist Financial decreased their price target on BKV from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Barclays boosted their price objective on shares of BKV from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, KeyCorp lowered their target price on shares of BKV from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus 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.