Kinetik Holdings Inc. (KNTK) - What Are Analysts Saying About This Stock?

Key Points

• Analysts remain moderately bullish: Nineteen analysts give Kinetik a consensus “Moderate Buy” rating, with an average 12-month price target of $55.53. Recent targets range from $54 to $58.
• Kinetik exceeded quarterly expectations: The company reported $0.64 in earnings per share versus the $0.19 consensus estimate, while revenue rose 36.3% year over year to $581.44 million.
• Insider selling has been significant: A major shareholder sold 2 million shares for approximately $109.5 million, and insiders have sold nearly $212 million worth of stock over the past 90 days.

Shares of Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) have received an average recommendation of "Moderate Buy" from the nineteen analysts that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $55.53.

A number of equities research analysts have recently weighed in on KNTK shares. Wells Fargo & Company reiterated an "overweight" rating and issued a $54.00 price target on shares of Kinetik in a research report on Monday, August 10th. Jefferies Financial Group reissued a "hold" rating and set a $54.00 price target (down from $56.00) on shares of Kinetik in a research report on Monday. JPMorgan Chase & Co. raised their price objective on Kinetik from $54.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Royal Bank Of Canada lifted their price objective on Kinetik from $57.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday, October 14th. Finally, Wall Street Zen raised Kinetik from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 8th.

Insider Activity at Kinetik

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 2,000,000 shares of the company's stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $54.77, for a total transaction of $109,540,000.00. Following the completion of the sale, the insider owned 1 shares of the company's stock, valued at approximately $54.77. This represents a 100.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 3,931,632 shares of company stock valued at $211,967,059. 3.56% of the stock is currently owned by insiders.

Institutional Trading of Kinetik

Large investors have recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH grew its position in Kinetik by 13.1% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 25,265 shares of the company's stock valued at $1,268,000 after acquiring an additional 2,936 shares during the last quarter. Tidal Investments LLC raised its stake in Kinetik by 19.8% during the second quarter. Tidal Investments LLC now owns 29,777 shares of the company's stock worth $1,439,000 after acquiring an additional 4,930 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Kinetik during the second quarter worth about $259,000. Integrated Wealth Concepts LLC bought a new position in shares of Kinetik in the second quarter worth about $71,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Kinetik by 12.9% in the second quarter. NewEdge Advisors LLC now owns 46,187 shares of the company's stock worth $2,233,000 after acquiring an additional 5,269 shares during the last quarter. Institutional investors and hedge funds own 21.11% of the company's stock.

Kinetik Price Performance

KNTK opened at $54.66 on Tuesday. The business has a fifty day simple moving average of $53.66 and a 200 day simple moving average of $50.18. The company has a market capitalization of $8.88 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.27 and a beta of 0.61. Kinetik has a 1 year low of $31.33 and a 1 year high of $56.92.

Kinetik (NYSE:KNTK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.45. Kinetik had a negative return on equity of 38.96% and a net margin of 26.19%. The firm had revenue of $581.44 million for the quarter, compared to analyst estimates of $421.48 million. During the same period in the prior year, the firm posted $0.33 EPS. The company's revenue for the quarter was up 36.3% on a year-over-year basis. Equities analysts anticipate that Kinetik will post 1.40 earnings per share for the current fiscal year.

Kinetik Company Profile

Kinetik Holdings Inc is a midstream energy company that provides infrastructure and services for the gathering, processing, transportation and treatment of natural gas, crude oil and natural gas liquids. Its operations are focused primarily on the Permian Basin, where it connects hydrocarbon production to processing facilities, pipelines and downstream markets.

The company's assets include natural gas gathering and processing systems, crude oil gathering infrastructure, natural gas liquids services and long-haul pipeline interests.

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