Kinetik (NASDAQ:KNTK) PT Raised to $42.00 at Mizuho

Kinetik (NASDAQ:KNTK) had its target price hoisted by equities researchers at Mizuho from $39.00 to $42.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Mizuho’s target price would indicate a potential upside of 7.28% from the stock’s previous close.

KNTK has been the subject of several other reports. Barclays began coverage on Kinetik in a research report on Monday. They issued an “equal weight” rating and a $40.00 price objective for the company. JPMorgan Chase & Co. upped their price target on Kinetik from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada began coverage on Kinetik in a research note on Monday, March 25th. They set an “outperform” rating and a $40.00 price target on the stock. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.00.

Kinetik Trading Up 1.5 %

KNTK stock opened at $39.15 on Tuesday. The stock has a 50-day moving average price of $36.89 and a 200-day moving average price of $35.25. Kinetik has a 1-year low of $26.32 and a 1-year high of $40.42. The firm has a market cap of $6.02 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 2.38 and a beta of 2.80.

Kinetik (NASDAQ:KNTK) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $0.46 by $1.24. Kinetik had a negative return on equity of 49.32% and a net margin of 28.57%. The firm had revenue of $348.87 million during the quarter, compared to analyst estimates of $301.49 million. During the same period last year, the company posted $0.25 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. On average, analysts forecast that Kinetik will post 2 earnings per share for the current year.

Insider Buying and Selling at Kinetik

In other Kinetik news, insider Trevor Howard sold 7,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $37.62, for a total transaction of $263,340.00. Following the sale, the insider now owns 198,411 shares in the company, valued at $7,464,221.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Trevor Howard sold 7,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $37.62, for a total value of $263,340.00. Following the sale, the insider now directly owns 198,411 shares of the company’s stock, valued at $7,464,221.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Corp Apache sold 13,079,871 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $33.75, for a total value of $441,445,646.25. The disclosure for this sale can be found here. Insiders have sold 13,095,803 shares of company stock worth $442,051,135 over the last 90 days. Corporate insiders own 3.71% of the company’s stock.

Institutional Trading of Kinetik

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ronald Blue Trust Inc. purchased a new position in shares of Kinetik during the third quarter valued at approximately $37,000. SG Americas Securities LLC purchased a new position in shares of Kinetik during the third quarter valued at approximately $245,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Kinetik by 7.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 61,043 shares of the company’s stock valued at $2,060,000 after purchasing an additional 4,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Kinetik by 31.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 139,767 shares of the company’s stock worth $4,717,000 after acquiring an additional 33,842 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in Kinetik by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 510,554 shares of the company’s stock worth $17,231,000 after acquiring an additional 9,577 shares during the last quarter. 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.