Kinetik Holdings Inc. (NASDAQ:KNTK) Given Average Recommendation of “Moderate Buy” by Analysts

Kinetik Holdings Inc. (NASDAQ:KNTK) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $59.63.

Several research firms recently commented on KNTK. Citigroup lifted their price objective on Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Wells Fargo & Company reduced their price objective on Kinetik from $60.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Royal Bank of Canada reduced their price objective on Kinetik from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. lifted their price objective on Kinetik from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, January 15th. Finally, Barclays reduced their price objective on Kinetik from $61.00 to $57.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th.

Insider Buying and Selling at Kinetik

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of Kinetik stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $52.66, for a total transaction of $55,004,370.54. Following the transaction, the insider now directly owns 657,583 shares of the company’s stock, valued at $34,628,320.78. The trade was a 61.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.71% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Kinetik by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 4,002,232 shares of the company’s stock worth $226,967,000 after purchasing an additional 72,760 shares in the last quarter. Invesco Ltd. boosted its stake in Kinetik by 3.0% in the 4th quarter. Invesco Ltd. now owns 1,247,843 shares of the company’s stock worth $70,765,000 after purchasing an additional 36,362 shares during the period. Westwood Holdings Group Inc. boosted its stake in Kinetik by 78.3% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,083,213 shares of the company’s stock worth $61,429,000 after purchasing an additional 475,606 shares during the period. Geode Capital Management LLC boosted its stake in Kinetik by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 877,887 shares of the company’s stock worth $39,742,000 after purchasing an additional 13,644 shares during the period. Finally, Merewether Investment Management LP boosted its stake in Kinetik by 56.6% in the 3rd quarter. Merewether Investment Management LP now owns 662,300 shares of the company’s stock worth $29,976,000 after purchasing an additional 239,500 shares during the period. 21.11% of the stock is owned by hedge funds and other institutional investors.

Kinetik Price Performance

Shares of NASDAQ:KNTK opened at $52.64 on Monday. Kinetik has a 1-year low of $37.65 and a 1-year high of $67.60. The business has a fifty day moving average price of $59.49 and a 200-day moving average price of $55.19. The company has a market capitalization of $8.31 billion, a PE ratio of 19.42, a PEG ratio of 1.52 and a beta of 2.85.

Kinetik Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.78 per share. The ex-dividend date was Monday, February 3rd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.93%. Kinetik’s dividend payout ratio is currently 305.88%.

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.