BKV Corporation’s (NYSE:BKV) Lock-Up Period Will End on March 25th

BKV’s (NYSE:BKV) lock-up period will expire on Tuesday, March 25th. BKV had issued 15,000,000 shares in its initial public offering on September 26th. The total size of the offering was $270,000,000 based on an initial share price of $18.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Analysts Set New Price Targets

Several brokerages have commented on BKV. Mizuho raised 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. Truist Financial cut their price objective on shares of BKV from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Monday. Barclays upped their target price on shares of BKV from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, KeyCorp cut their price target on shares of BKV from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $28.00.

BKV Stock Up 2.1 %

Shares of NYSE:BKV opened at $20.44 on Tuesday. BKV has a 52-week low of $17.39 and a 52-week high of $26.78. The stock has a fifty day moving average of $22.96.

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

Institutional Trading of BKV

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of BKV in the 4th quarter worth approximately $157,000. Corebridge Financial Inc. purchased a new position in BKV in the 4th quarter worth $170,000. Bank of New York Mellon Corp bought a new stake in BKV in the fourth quarter worth $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 bought a new position in shares of BKV during the fourth quarter valued at about $9,553,000.

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.