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

BKV’s (NYSE:BKV) lock-up period will end on Tuesday, March 25th. BKV had issued 15,000,000 shares in its 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 expiration of BKV’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Wall Street Analyst Weigh In

BKV has been the topic of a number of analyst reports. KeyCorp cut their price target on BKV from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 4th. Barclays lifted their target price on BKV from $24.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Truist Financial cut their target price on BKV from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Finally, Mizuho lifted their target price on BKV from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $28.00.

BKV Stock Performance

Shares of BKV stock opened at $20.78 on Friday. BKV has a 52-week low of $17.39 and a 52-week high of $26.78. The firm has a 50-day moving average of $22.73.

BKV (NYSE:BKV) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.11. The company had revenue of $119.78 million during the quarter, compared to analyst estimates of $183.77 million. As a group, equities research analysts forecast that BKV will post -1.82 EPS for the current fiscal year.

Institutional Investors Weigh In On BKV

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in BKV in the 4th quarter valued at approximately $157,000. California State Teachers Retirement System purchased a new stake in BKV in the 4th quarter valued at approximately $26,000. Driehaus Capital Management LLC purchased a new stake in BKV in the 4th quarter valued at approximately $9,553,000. Geode Capital Management LLC purchased a new stake in BKV in the 4th quarter valued at approximately $7,728,000. Finally, Corebridge Financial Inc. purchased a new stake in BKV in the 4th quarter valued at approximately $170,000.

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.