Key Points
- Matthew Wall sold 8,083 shares of Kinetik on Jan. 2 at an average price of $36.05 for about $291,392, leaving him with 554,738 shares (a 1.44% reduction in his stake, valued near $19.998M).
- Kinetik's latest quarter missed expectations, reporting $0.03 EPS vs. a $0.23 consensus and revenue of $463.97M vs. a $604.57M estimate, though revenue was up 17.1% year‑over‑year.
- Analysts hold a consensus of Moderate Buy with an average price target of $47.17, even as several firms have recently trimmed their targets (e.g., Goldman, Scotiabank, RBC).
Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) insider Matthew Wall sold 8,083 shares of the business's stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $36.05, for a total transaction of $291,392.15. Following the transaction, the insider owned 554,738 shares of the company's stock, valued at approximately $19,998,304.90. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Kinetik Price Performance
NYSE KNTK opened at $35.61 on Wednesday. The business has a fifty day moving average price of $35.27 and a two-hundred day moving average price of $39.27. The stock has a market capitalization of $5.75 billion, a PE ratio of 84.79, a PEG ratio of 0.67 and a beta of 0.73. Kinetik Holdings Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $67.60.
Kinetik (NYSE:KNTK - Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.20). Kinetik had a net margin of 6.70% and a negative return on equity of 5.74%. The business had revenue of $463.97 million during the quarter, compared to the consensus estimate of $604.57 million. During the same quarter in the previous year, the business posted $0.35 EPS. The company's revenue for the quarter was up 17.1% on a year-over-year basis.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Wolfe Research reissued an "outperform" rating and issued a $42.00 target price on shares of Kinetik in a report on Friday, November 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Kinetik in a research note on Wednesday, October 8th. Scotiabank cut their target price on shares of Kinetik from $51.00 to $45.00 and set a "sector outperform" rating on the stock in a research report on Thursday, November 13th. The Goldman Sachs Group decreased their target price on shares of Kinetik from $46.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, November 17th. Finally, Royal Bank Of Canada dropped their price target on Kinetik from $52.00 to $46.00 and set an "outperform" rating for the company in a research note on Wednesday, November 19th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $47.17.
View Our Latest Stock Analysis on Kinetik
Institutional Investors Weigh In On Kinetik
Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Kinetik by 569.6% during the fourth quarter. GAMMA Investing LLC now owns 1,761 shares of the company's stock valued at $63,000 after acquiring an additional 1,498 shares during the last quarter. JPMorgan Chase & Co. raised its position in Kinetik by 3.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 56,484 shares of the company's stock worth $2,414,000 after purchasing an additional 1,670 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in Kinetik during the 3rd quarter worth about $513,000. CIBC Private Wealth Group LLC grew its position in shares of Kinetik by 49.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 643,338 shares of the company's stock valued at $27,496,000 after buying an additional 213,694 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Kinetik in the third quarter valued at about $202,000. 21.11% of the stock is owned by institutional investors.
Kinetik Company Profile
(
Get Free Report)
Kinetik (NYSE: KNTK) is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company's core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.
The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.
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