Kinetik Holdings Inc. (NYSE:KNTK) Receives $47.90 Average PT from Analysts

by · The Markets Daily

Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $47.2727.

Several equities analysts have recently weighed in on KNTK shares. Barclays decreased their price target on shares of Kinetik from $43.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Mizuho set a $48.00 target price on shares of Kinetik in a report on Wednesday, October 29th. Zacks Research raised shares of Kinetik from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 13th. The Goldman Sachs Group reduced their price objective on shares of Kinetik from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Finally, Jefferies Financial Group started coverage on Kinetik in a research report on Tuesday. They issued a “buy” rating and a $41.00 target price on the stock.

Read Our Latest Report on Kinetik

Insiders Place Their Bets

In related news, insider Jamie Welch purchased 8,000 shares of the stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $34.57 per share, with a total value of $276,560.00. Following the transaction, the insider directly owned 3,687,791 shares of the company’s stock, valued at $127,486,934.87. This trade represents a 0.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kinetik

Large investors have recently made changes to their positions in the stock. Bell Investment Advisors Inc acquired a new position in Kinetik during the first quarter worth $41,000. Aster Capital Management DIFC Ltd bought a new position in shares of Kinetik in the 3rd quarter valued at about $54,000. Advisory Services Network LLC bought a new position in shares of Kinetik in the 3rd quarter valued at about $55,000. Chung Wu Investment Group LLC acquired a new position in shares of Kinetik during the 2nd quarter worth about $56,000. Finally, Fifth Third Bancorp raised its holdings in shares of Kinetik by 269.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,569 shares of the company’s stock valued at $67,000 after purchasing an additional 1,144 shares during the period. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Price Performance

KNTK opened at $36.86 on Friday. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 87.76, a P/E/G ratio of 2.02 and a beta of 0.78. The business’s 50-day moving average price is $36.54 and its two-hundred day moving average price is $40.66. Kinetik has a 1 year low of $31.33 and a 1 year high of $67.60.

Kinetik (NYSE:KNTK – Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.20). Kinetik had a negative return on equity of 5.74% and a net margin of 6.70%.The firm had revenue of $463.97 million for the quarter, compared to analyst estimates of $604.57 million. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s quarterly revenue was up 17.1% on a year-over-year basis.

Kinetik Company Profile

(Get Free Report)

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. It provides gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil, and water. The company is headquartered in Midland, Texas.

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