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

BKV Corporation (NYSE:BKV) insider Ethan Ngo sold 21,667 shares of BKV stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $20.09, for a total transaction of $435,290.03. Following the transaction, the insider now owns 286,008 shares of the company’s stock, valued at $5,745,900.72. The trade was a 7.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

BKV Stock Down 15.7 %

NYSE BKV opened at $17.18 on Monday. BKV Corporation has a one year low of $16.80 and a one year high of $26.78. The stock has a 50-day simple moving average of $21.87.

BKV (NYSE:BKV) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates 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. On average, sell-side analysts expect that BKV Corporation will post -1.82 EPS for the current year.

Institutional Investors Weigh In On BKV

A number of large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System purchased a new position in shares of BKV in the 4th quarter worth $26,000. SG Americas Securities LLC bought a new position in BKV in the fourth quarter valued at about $157,000. Corebridge Financial Inc. bought a new position in BKV in the fourth quarter valued at about $170,000. Bank of New York Mellon Corp purchased a new position in BKV in the fourth quarter worth about $695,000. Finally, Geode Capital Management LLC bought a new stake in shares of BKV during the 4th quarter valued at about $7,728,000.

Analyst Ratings Changes

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