Kinetik (NASDAQ:KNTK) Now Covered by Analysts at UBS Group

Research analysts at UBS Group began coverage on shares of Kinetik (NASDAQ:KNTK - Get Free Report) in a report released on Tuesday, Marketbeat reports. The brokerage set a "neutral" rating and a $49.00 price target on the stock. UBS Group's price objective would suggest a potential upside of 18.20% from the company's previous close.

A number of other research analysts have also recently issued reports on the company. Scotiabank reduced their price objective on Kinetik from $62.00 to $60.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 6th. 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 note on Thursday, March 13th. Wells Fargo & Company lowered their price objective on Kinetik from $60.00 to $58.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Barclays lifted their target price on shares of Kinetik from $57.00 to $58.00 and gave the company an "equal weight" rating in a report on Wednesday, April 16th. Finally, US Capital Advisors upgraded shares of Kinetik from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $58.56.

Kinetik Stock Performance

NASDAQ:KNTK traded up $0.36 during mid-day trading on Tuesday, reaching $41.46. The stock had a trading volume of 1,009,218 shares, compared to its average volume of 618,435. The stock has a market capitalization of $6.54 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.52 and a beta of 2.68. Kinetik has a one year low of $37.85 and a one year high of $67.60. The firm has a 50 day moving average price of $48.40 and a two-hundred day moving average price of $54.80.

Insiders Place Their Bets

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $52.66, for a total value of $55,004,370.54. Following the completion of the sale, the insider now owns 657,583 shares in the company, valued at $34,628,320.78. This represents a 61.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.83% of the company's stock.

Institutional Investors Weigh In On Kinetik

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KNTK. Harbor Capital Advisors Inc. boosted its stake in shares of Kinetik by 2.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,088 shares of the company's stock worth $515,000 after acquiring an additional 174 shares during the period. Comerica Bank increased its position in Kinetik by 32.2% during the fourth quarter. Comerica Bank now owns 800 shares of the company's stock valued at $45,000 after acquiring an additional 195 shares during the last quarter. GAMMA Investing LLC raised its position in Kinetik by 72.0% in the 4th quarter. GAMMA Investing LLC now owns 509 shares of the company's stock worth $29,000 after purchasing an additional 213 shares during the period. Private Advisor Group LLC raised its holdings in shares of Kinetik by 5.3% in the fourth quarter. Private Advisor Group LLC now owns 8,859 shares of the company's stock worth $502,000 after buying an additional 448 shares during the period. Finally, Fifth Third Bancorp bought a new stake in shares of Kinetik during the fourth quarter worth $26,000. 21.11% of the stock is owned by hedge funds and other institutional investors.

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.