Kinetik Holdings Inc. (NASDAQ:KNTK) Given Consensus Recommendation of “Hold” by Analysts

Kinetik Holdings Inc. (NASDAQ:KNTKGet Free Report) has been given an average rating of “Hold” by the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $39.33.

KNTK has been the subject of several research reports. Citigroup reissued a “neutral” rating and issued a $35.00 target price on shares of Kinetik in a research note on Tuesday, December 19th. JPMorgan Chase & Co. raised Kinetik from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $38.00 to $40.00 in a research note on Friday, March 8th. Finally, Royal Bank of Canada initiated coverage on Kinetik in a research note on Monday, March 25th. They issued an “outperform” rating and a $40.00 target price for the company.

View Our Latest Stock Report on KNTK

Kinetik Price Performance

KNTK stock opened at $39.01 on Monday. The business has a fifty day moving average price of $36.04 and a 200 day moving average price of $34.96. Kinetik has a fifty-two week low of $26.32 and a fifty-two week high of $40.42. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 2.65 and a beta of 2.80.

Kinetik (NASDAQ:KNTKGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $1.24. Kinetik had a negative return on equity of 49.32% and a net margin of 28.57%. The firm had revenue of $348.87 million during the quarter, compared to analysts’ expectations of $301.49 million. During the same period last year, the firm posted $0.25 EPS. The business’s revenue was up 18.1% on a year-over-year basis. On average, equities analysts expect that Kinetik will post 2.02 earnings per share for the current fiscal year.

Kinetik Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 22nd were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, February 21st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 7.69%. Kinetik’s dividend payout ratio (DPR) is presently 132.74%.

Insider Buying and Selling

In related news, insider Anne Psencik sold 3,182 shares of Kinetik stock in a transaction on Monday, March 11th. The stock was sold at an average price of $35.57, for a total transaction of $113,183.74. Following the completion of the sale, the insider now directly owns 247,128 shares of the company’s stock, valued at $8,790,342.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Kinetik news, insider Matthew Wall sold 5,750 shares of Kinetik stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $39.82, for a total transaction of $228,965.00. Following the transaction, the insider now directly owns 530,066 shares in the company, valued at $21,107,228.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Anne Psencik sold 3,182 shares of Kinetik stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $35.57, for a total value of $113,183.74. Following the transaction, the insider now owns 247,128 shares in the company, valued at $8,790,342.96. The disclosure for this sale can be found here. Insiders sold a total of 13,095,803 shares of company stock valued at $442,051,135 over the last three months. Company insiders own 3.62% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KNTK. Ensign Peak Advisors Inc bought a new position in Kinetik during the third quarter worth about $31,000. Ronald Blue Trust Inc. bought a new position in Kinetik during the third quarter worth about $37,000. Tower Research Capital LLC TRC bought a new position in Kinetik during the third quarter worth about $37,000. Bartlett & Co. LLC bought a new stake in shares of Kinetik in the third quarter valued at about $78,000. Finally, UBS Group AG bought a new stake in shares of Kinetik in the third quarter valued at about $84,000. 21.11% of the stock is currently owned by institutional investors.

About Kinetik

(Get Free Report

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.

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Analyst Recommendations for Kinetik (NASDAQ:KNTK)

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