BKV (NYSE:BKV) Stock Price Down 5.5% Following Analyst Downgrade

BKV Corporation (NYSE:BKV) shares dropped 5.5% 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 changed 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 weighed in on the company. Truist Financial raised their price objective on BKV from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, February 14th. Mizuho boosted their price target on BKV from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Barclays increased their price objective on BKV from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, Susquehanna boosted their target price on shares of BKV from $24.00 to $25.00 and gave the stock a “positive” rating in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $28.13.

Institutional Investors Weigh In On BKV

Several hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of BKV in the fourth quarter valued at about $157,000. Driehaus Capital Management LLC bought a new position in BKV in the 4th quarter valued at about $9,553,000. Geode Capital Management LLC acquired a new stake in BKV during the fourth quarter worth approximately $7,728,000. Corebridge Financial Inc. bought a new stake in shares of BKV during the fourth quarter worth approximately $170,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of BKV in the fourth quarter valued at approximately $695,000.

BKV Price Performance

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

BKV (NYSE:BKV) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.11. The firm had revenue of $119.78 million during the quarter, compared to analyst estimates of $183.77 million. On average, equities analysts expect that BKV Corporation will post -1.82 earnings per share for the current fiscal year.

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.