Kinetik Holdings Inc. (NASDAQ:KNTK) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Get Free Report) have received an average recommendation of "Moderate Buy" from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $59.63.

KNTK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Kinetik from $63.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, January 15th. Wells Fargo & Company reduced their target price on shares of Kinetik from $60.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Citigroup boosted their price target on Kinetik from $54.00 to $58.00 and gave the company a "neutral" rating in a report on Monday, December 16th. Barclays decreased their target price on Kinetik from $61.00 to $57.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group increased their price target on Kinetik from $46.00 to $61.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th.

Kinetik Trading Down 2.0 %

Shares of KNTK stock traded down $1.06 on Monday, reaching $51.50. 436,860 shares of the company's stock were exchanged, compared to its average volume of 563,541. The company's fifty day simple moving average is $58.98 and its 200 day simple moving average is $55.30. The stock has a market capitalization of $8.13 billion, a PE ratio of 19.00, a P/E/G ratio of 1.52 and a beta of 2.85. Kinetik has a 52 week low of $37.65 and a 52 week high of $67.60.

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Kinetik Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Monday, February 3rd were issued a $0.78 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.12 dividend on an annualized basis and a yield of 6.06%. Kinetik's dividend payout ratio is presently 305.88%.

Insider Buying and Selling at Kinetik

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 657,583 shares in the company, valued at approximately $34,628,320.78. This represents a 61.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.71% of the company's stock.

Institutional Inflows and Outflows

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

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.