Kinetik Holdings Inc. (NASDAQ:KNTK) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Get Free Report) have been given an average rating of "Moderate Buy" by the nine ratings firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $57.89.

A number of brokerages have recently issued reports on KNTK. JPMorgan Chase & Co. raised their price target on shares of Kinetik from $63.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, January 15th. Royal Bank of Canada decreased their price target on shares of Kinetik from $67.00 to $63.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. UBS Group started coverage on shares of Kinetik in a research report on Tuesday, April 29th. They set a "neutral" rating and a $49.00 price objective for the company. US Capital Advisors raised shares of Kinetik from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Finally, Scotiabank reduced their price target on shares of Kinetik from $57.00 to $54.00 and set a "sector outperform" rating for the company in a research report on Monday.

Kinetik Stock Performance

Shares of NASDAQ KNTK traded down $1.39 during mid-day trading on Tuesday, hitting $45.21. The stock had a trading volume of 1,825,841 shares, compared to its average volume of 656,440. The company has a 50 day moving average of $46.30 and a two-hundred day moving average of $54.34. The firm has a market cap of $7.13 billion, a PE ratio of 16.68, a PEG ratio of 1.52 and a beta of 3.03. Kinetik has a twelve month low of $37.85 and a twelve month high of $67.60.

Kinetik (NASDAQ:KNTK - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.24). The firm had revenue of $443.26 million for the quarter, compared to analysts' expectations of $466.54 million. Kinetik had a negative return on equity of 39.48% and a net margin of 30.25%. The company's revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 earnings per share. Equities research analysts predict that Kinetik will post 1.96 EPS for the current fiscal year.

Kinetik Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Friday, April 25th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date of this dividend was Friday, April 25th. Kinetik's payout ratio is 328.42%.

Insider Buying and Selling at Kinetik

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 3,952,431 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $55.63, for a total transaction of $219,873,736.53. Following the completion of the sale, the insider now directly owns 1,044,520 shares of the company's stock, valued at $58,106,647.60. This represents a 79.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. PDT Partners LLC increased its stake in shares of Kinetik by 45.5% during the 1st quarter. PDT Partners LLC now owns 126,365 shares of the company's stock worth $6,563,000 after purchasing an additional 39,535 shares during the last quarter. Vident Advisory LLC boosted its holdings in Kinetik by 26.2% in the 1st quarter. Vident Advisory LLC now owns 67,800 shares of the company's stock valued at $3,522,000 after purchasing an additional 14,070 shares during the period. OMERS ADMINISTRATION Corp boosted its holdings in Kinetik by 329.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 39,100 shares of the company's stock valued at $2,031,000 after purchasing an additional 30,000 shares during the period. Harvest Portfolios Group Inc. bought a new stake in Kinetik in the 1st quarter valued at $6,032,000. Finally, Comerica Bank lifted its holdings in shares of Kinetik by 91.5% during the 1st quarter. Comerica Bank now owns 1,532 shares of the company's stock worth $80,000 after acquiring an additional 732 shares during the period. Institutional investors and hedge funds own 21.11% of the company's stock.

Kinetik Company Profile

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. The company operates through two segments, Midstream Logistics and Pipeline Transportation. It provides gathering, transportation, compression, processing, stabilization, treating, storage, and transportation services for companies that produce natural gas, natural gas liquids, and crude oil; and water gathering and disposal services.