Kinetik (NASDAQ:KNTK) Upgraded at US Capital Advisors

Kinetik (NASDAQ:KNTK - Get Free Report) was upgraded by equities research analysts at US Capital Advisors from a "hold" rating to a "moderate buy" rating in a report issued on Monday, April 7th,Zacks.com reports.

KNTK has been the subject of several other research reports. Citigroup upped their price objective on shares of Kinetik from $54.00 to $58.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Royal Bank of Canada lowered their price target on shares of Kinetik from $67.00 to $63.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Barclays lowered their price objective on Kinetik from $61.00 to $57.00 and set an "equal weight" rating for the company in a research note on Thursday, March 6th. JPMorgan Chase & Co. upped their price objective on shares of Kinetik from $63.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company dropped their price target on Kinetik from $60.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $59.63.

Kinetik Stock Up 0.8 %

Shares of KNTK traded up $0.35 during trading hours on Monday, hitting $43.49. The company had a trading volume of 165,519 shares, compared to its average volume of 602,564. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.52 and a beta of 2.68. The business has a fifty day moving average of $53.55 and a 200-day moving average of $55.44. Kinetik has a 12 month low of $37.65 and a 12 month high of $67.60.

Insider Transactions at Kinetik

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of Kinetik stock in a transaction on Monday, March 17th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

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.