Kinetik Holdings Inc. (NYSE:KNTK) Stock Has Consensus Target Price of $54.00
by Amy Steele · The Cerbat GemKinetik Holdings Inc. (NYSE:KNTK – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $54.00.
A number of equities analysts recently issued reports on the company. Zacks Research raised Kinetik from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 23rd. Barclays set a $51.00 target price on Kinetik and gave the company an “equal weight” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. boosted their price target on Kinetik from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Clear Str cut Kinetik from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Wall Street Zen raised Kinetik from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th.
View Our Latest Research Report on KNTK
Kinetik News Summary
Here are the key news stories impacting Kinetik this week:
- Positive Sentiment: Zacks Research upgraded Kinetik from “Hold” to “Strong Buy,” providing a bullish signal that may support the stock. The shares were recently trading near $51, below the $54 analyst consensus target. Zacks upgrade report
- Positive Sentiment: Analysts maintain a consensus “Moderate Buy” rating on Kinetik, with 12 analysts issuing Buy or Strong Buy ratings and an average price target of approximately $54. Recent targets include Truist’s $59 price objective. Kinetik analyst consensus report
- Neutral Sentiment: Kinetik’s latest reported quarter provides a supportive fundamental backdrop: earnings per share of $0.64 exceeded the $0.19 consensus estimate, while revenue rose 36.3% year over year to $581.4 million. However, the company’s projected full-year EPS remains modest at approximately $1.30.
- Negative Sentiment: ISQ Global Fund II GP LLC, a major Kinetik shareholder, continued selling shares. It sold 24,194 shares for about $1.30 million on September 23, following sales of 39,937 shares worth roughly $2.15 million on September 22. The repeated disposals can pressure the stock and raise concerns about near-term insider conviction, although the fund still retained 384,142 shares after the latest transaction. Kinetik insider sales report
Kinetik Stock Up 0.2%
Kinetik stock opened at $51.29 on Friday. Kinetik has a 52-week low of $31.33 and a 52-week high of $56.92. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.27 and a beta of 0.57. The firm has a 50-day moving average price of $52.64 and a two-hundred day moving average price of $49.41.
Kinetik (NYSE:KNTK – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.19 by $0.45. The company had revenue of $581.44 million for the quarter, compared to analyst estimates of $421.48 million. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. Kinetik’s revenue was up 36.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 earnings per share. Research analysts expect that Kinetik will post 1.3 earnings per share for the current year.
Insiders Place Their Bets
In related news, major shareholder Isq Global Fund Ii Gp Llc sold 24,194 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $53.55, for a total value of $1,295,588.70. Following the completion of the transaction, the insider owned 384,142 shares in the company, valued at $20,570,804.10. This represents a 5.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 1,547,491 shares of company stock valued at $81,648,682 over the last three months. Corporate insiders own 3.56% of the company’s stock.
Institutional Trading of Kinetik
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP boosted its holdings in shares of Kinetik by 72.4% in the second quarter. Allworth Financial LP now owns 569 shares of the company’s stock valued at $28,000 after acquiring an additional 239 shares in the last quarter. Huntington National Bank increased its stake in shares of Kinetik by 139.1% during the fourth quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after acquiring an additional 711 shares during the period. SBI Okasan Asset Management Co.Ltd. bought a new stake in Kinetik during the fourth quarter worth approximately $47,000. Hantz Financial Services Inc. raised its holdings in Kinetik by 481.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,943 shares of the company’s stock worth $70,000 after purchasing an additional 1,609 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in Kinetik in the second quarter worth approximately $71,000. 21.11% of the stock is currently owned by institutional investors.
About Kinetik
Kinetik Holdings Inc (NYSE: KNTK) is a midstream energy company that provides gathering, processing, transportation and logistics services for oil and natural gas producers. The company’s operations are focused primarily on the Delaware Basin, a major producing region within the Permian Basin of West Texas and southeastern New Mexico.
Kinetik’s services include natural gas gathering and processing, natural gas liquids transportation and handling, crude oil logistics, and long-haul natural gas transportation.
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