Kinetik Holdings Inc. (NASDAQ:KNTK) Receives $37.50 Average Price Target from Analysts

Shares of Kinetik Holdings Inc. (NASDAQ:KNTK – Get Rating) have received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $37.50.

Several research firms recently issued reports on KNTK. Mizuho cut their price target on shares of Kinetik from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Monday, February 27th. Scotiabank began coverage on shares of Kinetik in a report on Thursday, March 2nd. They set a “sector perform” rating and a $34.00 target price on the stock. Citigroup dropped their target price on shares of Kinetik from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, March 14th. Raymond James began coverage on shares of Kinetik in a report on Friday, April 21st. They set a “market perform” rating on the stock. Finally, Wolfe Research started coverage on shares of Kinetik in a report on Monday, May 1st. They set a “market perform” rating on the stock.

Kinetik Trading Down 0.3 %

NASDAQ KNTK opened at $30.88 on Friday. The stock has a market cap of $4.42 billion, a P/E ratio of 23.94, a PEG ratio of 1.63 and a beta of 2.65. The company’s fifty day simple moving average is $30.70 and its 200-day simple moving average is $31.41. Kinetik has a 52 week low of $26.32 and a 52 week high of $44.99.

Kinetik (NASDAQ:KNTK – Get Rating) last posted its quarterly earnings results on Monday, February 27th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.25). The company had revenue of $295.49 million during the quarter, compared to analyst estimates of $248.87 million. Kinetik had a net margin of 4.58% and a negative return on equity of 16.97%. On average, research analysts expect that Kinetik will post 1.47 EPS for the current fiscal year.

Kinetik Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 17th. Investors of record on Friday, May 5th were given a $0.75 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $3.00 dividend on an annualized basis and a yield of 9.72%. Kinetik’s dividend payout ratio is presently 232.56%.

Insider Activity at Kinetik

In other Kinetik news, COO Matthew Wall sold 3,530 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $29.39, for a total value of $103,746.70. Following the completion of the sale, the chief operating officer now directly owns 476,598 shares of the company’s stock, valued at approximately $14,007,215.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Kinetik news, COO Matthew Wall sold 3,530 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $29.39, for a total value of $103,746.70. Following the completion of the sale, the chief operating officer now directly owns 476,598 shares of the company’s stock, valued at approximately $14,007,215.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jamie Welch purchased 7,000 shares of the business’s stock in a transaction on Friday, March 31st. The stock was acquired at an average cost of $31.13 per share, with a total value of $217,910.00. Following the completion of the acquisition, the insider now directly owns 3,142,233 shares in the company, valued at approximately $97,817,713.29. The disclosure for this purchase can be found here. Insiders sold 30,827 shares of company stock worth $952,808 in the last 90 days. Corporate insiders own 3.62% of the company’s stock.

Institutional Investors Weigh In On Kinetik

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its stake in Kinetik by 1,445.5% during the first quarter. Ameriprise Financial Inc. now owns 352,365 shares of the company’s stock valued at $11,029,000 after buying an additional 329,565 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Kinetik by 25.4% during the first quarter. JPMorgan Chase & Co. now owns 24,284 shares of the company’s stock valued at $760,000 after buying an additional 4,926 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Kinetik during the first quarter valued at about $125,000. Rockefeller Capital Management L.P. purchased a new stake in Kinetik during the first quarter valued at about $1,546,000. Finally, Jane Street Group LLC purchased a new stake in shares of Kinetik in the first quarter worth approximately $552,000.

About Kinetik

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Kinetik Holdings, Inc provides oil and gas production and distribution services. It operates through the Midstream Logistics and Pipeline Transportation segments. The Midstream Logistics segment is involved in the following service offerings: gas gathering and processing, crude oil gathering, stabilization and storage services, and water gathering and disposal.