Truist Financial Issues Pessimistic Forecast for BKV (NYSE:BKV) Stock Price

BKV (NYSE:BKV) had its target price cut by analysts at Truist Financial from $31.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 49.45% from the company’s previous close.

Several other brokerages have also recently commented on BKV. 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. KeyCorp decreased 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. Finally, Barclays raised their price target on shares of BKV from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $28.00.

BKV Stock Up 5.3 %

Shares of BKV opened at $20.07 on Monday. BKV has a one year low of $17.39 and a one year high of $26.78. The stock has a 50-day moving average price of $23.02.

BKV (NYSE:BKV) last announced its earnings results on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, topping the consensus estimate 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. As a group, analysts anticipate that BKV will post -1.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BKV

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

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.