Ethan Ngo Sells 21,667 Shares of BKV Corporation (NYSE:BKV) Stock

BKV Corporation (NYSE:BKV) insider Ethan Ngo sold 21,667 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $20.09, for a total value of $435,290.03. Following the transaction, the insider now 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 legal filing with the SEC, which is available at this hyperlink.

BKV Stock Performance

Shares of BKV stock opened at $17.18 on Monday. The stock has a 50 day simple moving average of $21.87. BKV Corporation has a fifty-two week low of $16.80 and a fifty-two week high of $26.78.

BKV (NYSE:BKV) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.11. The company had revenue of $119.78 million during the quarter, compared to the consensus estimate of $183.77 million. Research analysts forecast that BKV Corporation will post -1.82 earnings per share for the current year.

Institutional Investors Weigh In On BKV

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

Analysts Set New Price Targets

BKV has been the subject of several research reports. Mizuho upped their target price on BKV from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. KeyCorp reduced their target price on shares of BKV from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. Truist Financial lowered their price target on shares of BKV from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Barclays raised their price objective on BKV from $24.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $28.00.

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.