BKV Corporation’s (NYSE:BKV) Lock-Up Period Set To Expire on March 25th

BKV’s (NYSE:BKV) lock-up period is set to 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. After the end of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Truist Financial cut their target price on shares of BKV from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Monday. Mizuho raised their target price on shares of BKV from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Barclays raised 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 dropped their price target on BKV from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $28.00.

BKV Stock Up 2.2 %

Shares of BKV stock opened at $21.12 on Thursday. The firm’s fifty day moving average price is $22.85. BKV has a 12 month low of $17.39 and a 12 month high of $26.78.

BKV (NYSE:BKV) last issued 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 for the quarter, compared to the consensus estimate of $183.77 million. Sell-side analysts anticipate that BKV will post -1.82 EPS for the current year.

Hedge Funds Weigh In On BKV

Institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System bought a new position in shares of BKV during the fourth quarter valued at $26,000. SG Americas Securities LLC bought a new position in shares of BKV during the fourth quarter valued at $157,000. Corebridge Financial Inc. bought a new position in shares of BKV during the fourth quarter valued at $170,000. Bank of New York Mellon Corp bought a new stake in BKV in the 4th quarter worth about $695,000. Finally, Geode Capital Management LLC bought a new stake in BKV in the 4th quarter worth about $7,728,000.

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.