Trevor Howard Sells 1,619 Shares of Kinetik (NYSE:KNTK) Stock

Key Points

• Insider Trevor Howard sold 1,619 shares of Kinetik at an average price of $46.92 on March 4, raising about $75,963 and reducing his stake by 0.64% to 249,795 shares, according to an SEC filing.
• Kinetik reported a strong quarter — $2.16 EPS vs. $0.15 expected and $430.4 million in revenue (up 11.5% YoY) — and the stock trades with a market cap of $7.36 billion and a P/E of 17.73.
• Analysts are mixed: MarketBeat shows an average rating of Hold with a $45.55 target, after recent price-target adjustments roughly between $43 and $49 and a split of six Buy, six Hold and one Sell.

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) insider Trevor Howard sold 1,619 shares of Kinetik stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $46.92, for a total transaction of $75,963.48. Following the sale, the insider owned 249,795 shares of the company's stock, valued at approximately $11,720,381.40. The trade was a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Kinetik Trading Down 0.3%

Shares of NYSE:KNTK traded down $0.16 during trading on Friday, reaching $45.57. The company had a trading volume of 974,173 shares, compared to its average volume of 1,479,206. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $54.94. The company has a fifty day moving average of $40.62 and a two-hundred day moving average of $39.07. The stock has a market capitalization of $7.36 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.11 and a beta of 0.70.

Kinetik (NYSE:KNTK - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $2.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $2.01. Kinetik had a negative return on equity of 32.70% and a net margin of 29.23%.The business had revenue of $430.42 million for the quarter. During the same quarter in the previous year, the business earned $0.01 EPS. The company's revenue for the quarter was up 11.5% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KNTK. Barclays upped their price objective on shares of Kinetik from $40.00 to $43.00 and gave the company an "equal weight" rating in a research note on Thursday. Wells Fargo & Company upped their price target on shares of Kinetik from $40.00 to $44.00 and gave the company an "equal weight" rating in a research report on Friday, February 27th. Scotiabank lifted their price target on Kinetik from $48.00 to $49.00 and gave the stock a "sector outperform" rating in a research note on Thursday. Wolfe Research lowered Kinetik from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, January 27th. Finally, Royal Bank Of Canada cut their target price on shares of Kinetik from $52.00 to $46.00 and set an "outperform" rating on the stock in a report on Wednesday, November 19th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $45.55.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KNTK. CWM LLC raised its holdings in Kinetik by 89.8% in the 4th quarter. CWM LLC now owns 744 shares of the company's stock worth $27,000 after purchasing an additional 352 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Kinetik by 101.5% during the 4th quarter. Signaturefd LLC now owns 802 shares of the company's stock worth $29,000 after acquiring an additional 404 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Kinetik in the 4th quarter valued at approximately $33,000. Los Angeles Capital Management LLC bought a new stake in shares of Kinetik during the fourth quarter valued at approximately $40,000. Finally, Huntington National Bank grew its stake in Kinetik by 139.1% in the fourth quarter. Huntington National Bank now owns 1,222 shares of the company's stock worth $44,000 after purchasing an additional 711 shares during the period. 21.11% of the stock is owned by hedge funds and other institutional investors.

About Kinetik

Kinetik NYSE: KNTK is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company's core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.

The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.

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