Kinetik Holdings Inc. (NYSE:KNTK) Stock Has Consensus Target Price of $55.53 According to Brokerages

Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) has been given a consensus rating of “Moderate Buy” by the nineteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $55.47.

KNTK has been the subject of several recent research reports. Zacks Research upgraded Kinetik from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 23rd. Raymond James Financial restated an “outperform” rating and issued a $57.00 target price on shares of Kinetik in a research note on Tuesday, October 20th. Barclays boosted their target price on Kinetik from $51.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 13th. Truist Financial upped their target price on Kinetik from $53.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $59.00 price target on shares of Kinetik in a research note on Thursday, October 15th.

View Our Latest Stock Report on KNTK

Kinetik Stock Up 0.2%

KNTK stock opened at $55.80 on Tuesday. The company has a 50 day moving average of $53.90 and a two-hundred day moving average of $48.11. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.24 and a beta of 0.61. Kinetik has a 12-month low of $31.33 and a 12-month high of $56.92.

Kinetik (NYSE:KNTK – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.19 by $0.45. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The business had revenue of $581.44 million for the quarter, compared to analysts’ expectations of $421.48 million. During the same period in the previous year, the company posted $0.33 EPS. Kinetik’s revenue was up 36.3% on a year-over-year basis. On average, research analysts anticipate that Kinetik will post 1.44 EPS for the current year.

Insider Activity

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 2,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $54.77, for a total value 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. The trade was a 100.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders sold 3,931,632 shares of company stock worth $211,967,059. 3.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Kinetik

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KNTK. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in Kinetik by 1.2% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,773,000 shares of the company’s stock worth $89,005,000 after acquiring an additional 21,000 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Kinetik by 21.3% during the 3rd quarter. Signaturefd LLC now owns 1,714 shares of the company’s stock valued at $86,000 after purchasing an additional 301 shares in the last quarter. Inspire Investing LLC lifted its stake in shares of Kinetik by 100.8% in the 3rd quarter. Inspire Investing LLC now owns 27,926 shares of the company’s stock valued at $1,402,000 after purchasing an additional 14,016 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Kinetik by 21.3% in the 3rd quarter. Yousif Capital Management LLC now owns 16,013 shares of the company’s stock valued at $804,000 after purchasing an additional 2,817 shares during the last quarter. Finally, Royal Fund Management LLC lifted its stake in shares of Kinetik by 1.3% in the 3rd quarter. Royal Fund Management LLC now owns 21,876 shares of the company’s stock valued at $1,098,000 after purchasing an additional 289 shares during the last quarter. Institutional investors own 21.11% of the company’s stock.

Kinetik Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Kinetik (NYSE:KNTK)

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