Kinetik Holdings Inc. (NASDAQ:KNTK – Get Rating) insider Jamie Welch acquired 24,750 shares of Kinetik stock in a transaction dated Wednesday, September 21st. The stock was bought at an average price of $36.60 per share, for a total transaction of $905,850.00. Following the completion of the transaction, the insider now directly owns 2,888,369 shares of the company’s stock, valued at $105,714,305.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Jamie Welch also recently made the following trade(s):
- On Wednesday, August 17th, Jamie Welch acquired 1,100 shares of Kinetik stock. The stock was bought at an average price of $38.53 per share, for a total transaction of $42,383.00.
Kinetik Stock Performance
NASDAQ:KNTK traded down $1.08 during trading hours on Thursday, hitting $33.92. 194,361 shares of the company’s stock traded hands, compared to its average volume of 294,022. The stock’s fifty day moving average price is $37.84 and its two-hundred day moving average price is $36.59. Kinetik Holdings Inc. has a twelve month low of $29.05 and a twelve month high of $45.50. The firm has a market cap of $4.49 billion, a P/E ratio of 137.06, a P/E/G ratio of 0.22 and a beta of 2.87.
Kinetik Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Friday, August 5th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $3.00 annualized dividend and a dividend yield of 8.84%.
Wall Street Analysts Forecast Growth
KNTK has been the topic of a number of research reports. Morgan Stanley began coverage on Kinetik in a report on Thursday, August 25th. They issued an “equal weight” rating and a $46.00 price objective on the stock. Mizuho lifted their price objective on Kinetik from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.
Kinetik Company Profile
Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. It provides gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil, and water. The company is headquartered in Midland, Texas.
- Get a free copy of the StockNews.com research report on Kinetik (KNTK)
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