BKV
Produces U.S. natural gas with integrated midstream, ERCOT power and carbon storage.
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Profile
Produces and sells natural gas from the Barnett Shale and northeastern Pennsylvania, supported by owned midstream systems, gas-fired generation and retail electricity in ERCOT, and carbon sequestration projects. The Barnett supplies most upstream output, while Banpu retains majority voting control.
Produces natural gas and natural gas liquids in Texas's Barnett Shale and northeastern Pennsylvania, with the Barnett supplying most upstream output. Owned gathering, compression, processing and transportation systems connect part of that production to market.
Generates and sells electricity through a controlled venture whose Temple I and Temple II gas-fired plants and retail arm serve Texas's ERCOT market. Its carbon capture, utilization and sequestration business stores captured carbon dioxide underground, generating sequestration tax credits and pursuing service fees.
Uses data analytics, refracturing and advanced completions across low-decline Barnett assets. Results remain tied to natural-gas and electricity prices, pipeline access, carbon-storage permits and incentives. Banpu retains majority voting control, and the power business operates within ERCOT's regulated market.
Company facts
Key statistics
Year to date −11.8% · Average volume (30d) 949.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 11, 2026 | Barclays | Reiterate | Overweight | $36 | |
| Aug 10, 2026 | Truist Financial | Target | $34 | $33 | |
| Jul 21, 2026 | Susquehanna | Reiterate | Positive | $24 | $35 |
| Jul 10, 2026 | Truist Financial | Target | $34 | ||
| Jul 10, 2026 | Jefferies | Reiterate | Buy | $35 | $34 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.25 | $0.46 | +81.6% | $376.3M | $465.5M | +23.7% | +4.35% |
| May 7, 2026Q1 FY26 | $0.36 | $0.22 | −38.9% | $337.6M | $432.8M | +28.2% | −3.97% |
| Feb 25, 2026Q4 FY25 | $0.37 | $0.29 | −21.6% | $259.5M | $330.1M | +27.2% | 0.00% |
| Nov 10, 2025Q3 FY25 | $0.22 | $0.50 | +127.3% | $230.4M | $203.0M | −11.9% | +6.21% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $225.8M | $204.3M | $197.1M | $241.1M | $379.7M | $465.5M | |
| Gross profit | $185.8M | $166.2M | $159.2M | $67.1M | $89.6M | $465.5M | |
| Operating income | −$93.7M | $128.4M | $7.4M | $29.2M | $32.9M | $121.7M | |
| Net income | −$78.7M | $104.6M | $76.9M | $70.4M | $44.1M | $75.8M | |
| Diluted EPS | −$0.93 | $1.23 | $0.90 | $0.75 | $0.42 | $0.67 | |
| Gross margin | 82.3% | 81.4% | 80.8% | 27.8% | 23.6% | 100.0% | |
| Operating margin | -41.5% | 62.9% | 3.8% | 12.1% | 8.7% | 26.1% |
Fiscal years (4-quarter sums)FY22 $1.66B · FY23 $739.3M · FY24 $604.5M · FY25 $868.3M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $152.2M · Total debt $1.25B · Total assets $4.24B · Shareholders' equity $2.30B
Dividends
No dividends on record.
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 109.39M · Float 31.09M · 28.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Banpu Power US Corporation | 69.19M | 67.65% | 13D | Feb 6, 2026 |
| Banpu Public Co Ltd · director, 10 percent owner: | 69.19M | 63.26% | Form 4 | Jan 30, 2026 |
| Dme Capital Management, LP | 2.70M | 2.46% | 13F | May 15, 2026 |
| Goldman Sachs Group Inc | 2.22M | 2.03% | 13F | May 15, 2026 |
| Boston Partners | 2.21M | 2.02% | 13F | May 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | David Tameron | officer: Chief Financial Officer | −1,500 | $25.63 |
| Aug 21, 2026 | Javier Hinojosa | officer: Senior Vice President of Power | −12,377 | $25.73 |
| Aug 20, 2026 | David Tameron | officer: Chief Financial Officer | −4,321 | $26.56 |
| Aug 14, 2026 | Lindsay B. Larrick | officer: Chief Legal and Admin Officer | −10,000 | $26.16 |
| Jun 1, 2026 | Eric S. Jacobsen | officer: President, Upstream | −25,000 | $26.89 |
Peers
- Expand Energy
Largest US gas producer; dominant in both Marcellus and Haynesville basins.
- EQT
Largest US gas producer; dominant Marcellus overlap with NEPA position.
- Antero Resources
Marcellus pure-play and largest US NGL exporter; named LOE benchmark peer.
- Vistra
Largest ERCOT merchant power generator and largest Texas retail provider.
- Range Resources
Marcellus pioneer with long-life low-decline gas thesis closest to NEPA.
- CNX Resources
Appalachian gas with coal-mine-methane credits; closest low-carbon-gas rival.
- Comstock Resources
Haynesville pure-play targeting Gulf Coast LNG and data centers; CCUS customer.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| BKV | $24.23 | +0.08% | $2.65B | 8.8 | 15.7 | 2.1 | +127.9% |
| Expand Energy | $98.16 | 0.00% | $22.72B | 8.5 | 12.2 | 1.7 | −19.8% |
| EQT | $54.67 | +0.19% | $34.13B | 12.0 | 16.3 | 3.7 | −29.2% |
| Antero Resources | $38.50 | +0.13% | $11.82B | 11.0 | 9.0 | 2.1 | +29.6% |
| Vistra | $138.00 | +0.67% | $46.22B | 23.1 | 14.6 | 2.9 | −5.5% |
| Range Resources | $41.10 | −0.86% | $9.69B | 11.5 | 11.3 | 2.9 | +19.1% |
| CNX Resources | $36.42 | +0.64% | $5.36B | 6.0 | 10.8 | 2.2 | −35.7% |
| Comstock Resources | $14.40 | +0.73% | $4.20B | 8.2 | 32.8 | 2.2 | −24.9% |
| Median | 11.0 | 12.2 | 2.2 | −19.8% |