The stock of Kinetik Holdings Inc. (NYSE:KNTK) last traded at $30.02, down -6.04% from the previous session.
Data from the available sources indicates that Kinetik Holdings Inc. (NYSE:KNTK) is covered by 9 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $41.00 and a low of $34.00, we find $36.00. Given the previous closing price of $31.95, this indicates a potential upside of 12.68 percent. KNTK stock price is now -2.37% away from the 50-day moving average and -13.47% away from the 200-day moving average. The market capitalization of the company currently stands at $4.11B.
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In total, 5 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $36.13 as their price target over the next twelve months.
With the price target of $34, Scotiabank recently initiated with Sector Perform rating for Kinetik Holdings Inc. (NYSE: KNTK). On October 07, 2022, JP Morgan recently initiated its ‘Neutral’ rating on the stock quoting a target price of $42, while ‘Goldman’ rates the stock as ‘Neutral’.
In other news, Psencik Anne, Chief Strategy Officer sold 10,000 shares of the company’s stock on Mar 08. The stock was sold for $314,800 at an average price of $31.48. Upon completion of the transaction, the Chief Strategy Officer now directly owns 178,982 shares in the company, valued at $5.37 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 12, See Remarks Carpenter Todd sold 4,000 shares of the business’s stock. A total of $129,920 was realized by selling the stock at an average price of $32.48. This leaves the insider owning 190,645 shares of the company worth $5.72 million. Insiders disposed of 16,118 shares of company stock worth roughly $0.48 million over the past 1 year. A total of 8.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in KNTK stock. A new stake in Kinetik Holdings Inc. shares was purchased by CEREDEX VALUE ADVISORS LLC during the first quarter worth $10,727,000. YAUPON CAPITAL MANAGEMENT LP invested $8,678,000 in shares of KNTK during the first quarter. In the first quarter, CALDWELL SUTTER CAPITAL, INC. acquired a new stake in Kinetik Holdings Inc. valued at approximately $2,098,000. FIRST TRUST ADVISORS LP acquired a new stake in KNTK for approximately $1,083,000. AMERICAN CENTURY COMPANIES INC purchased a new stake in KNTK valued at around $593,000 in the second quarter. In total, there are 172 active investors with 36.40% ownership of the company’s stock.
With an opening price of $31.01 on Wednesday morning, Kinetik Holdings Inc. (NYSE: KNTK) set off the trading day. During the past 12 months, Kinetik Holdings Inc. has had a low of $27.80 and a high of $44.99. The fifty day moving average price for KNTK is $30.69 and a two-hundred day moving average price translates $34.63 for the stock.
The latest earnings results from Kinetik Holdings Inc. (NYSE: KNTK) was released for Sep, 2022. The net profit margin was 3.40% and return on equity was -4.10% for KNTK. The company reported revenue of $295.49 million for the quarter, compared to $56.33 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 424.57 percent. For the current quarter, analysts expect KNTK to generate $259.42M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/16/2023. Investors who held shares on 02/06/2023 were paid a $0.75 dividend. On an annualized basis, this represents a $3.00 dividend and a 9.99% percent yield. There was an ex-dividend date of 02/03/2023 for this dividend. In terms of dividend payout ratio, KNTK is presently at 310.10%.
Kinetik Holdings Inc.(KNTK) 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.
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