Key Points
- Kinetik director Deborah Byers sold 2,739 shares at an average price of $51.51, generating approximately $141,086 and reducing her direct ownership by 10.1% to 24,389 shares.
- Kinetik reported strong quarterly results, with revenue up 36.3% year over year to $581.44 million and EPS of $0.64, far exceeding analysts’ $0.19 consensus estimate.
- Wall Street maintains a favorable outlook, with the stock carrying a “Moderate Buy” consensus rating and a $52.87 average price target; Truist recently raised its target to $59. However, institutional and insider share sales add a potential source of near-term selling pressure.
Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) Director Deborah Byers sold 2,739 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $51.51, for a total transaction of $141,085.89. Following the sale, the director directly owned 24,389 shares of the company's stock, valued at approximately $1,256,277.39. This represents a 10.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Kinetik Stock Performance
Kinetik stock opened at $51.63 on Friday. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 1.69 and a beta of 0.56. Kinetik Holdings Inc. has a 1 year low of $31.33 and a 1 year high of $52.69. The firm's 50 day moving average price is $48.76 and its two-hundred day moving average price is $46.99.
Kinetik (NYSE:KNTK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.45. The company had revenue of $581.44 million during the quarter, compared to the consensus estimate of $421.48 million. Kinetik had a negative return on equity of 38.96% and a net margin of 26.19%.The company's quarterly revenue was up 36.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. As a group, equities analysts predict that Kinetik Holdings Inc. will post 0.97 EPS for the current fiscal year.
Institutional Investors Weigh In On Kinetik
Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Kinetik by 9.4% in the 4th quarter. Vanguard Group Inc. now owns 5,096,786 shares of the company's stock valued at $183,739,000 after purchasing an additional 439,586 shares during the period. Zimmer Partners LP purchased a new position in Kinetik during the fourth quarter valued at approximately $98,611,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in Kinetik by 1.7% during the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,874,000 shares of the company's stock valued at $90,720,000 after purchasing an additional 30,600 shares in the last quarter. Cohen & Steers Inc. increased its stake in Kinetik by 82.5% in the 4th quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company's stock valued at $66,458,000 after buying an additional 833,224 shares during the period. Finally, Invesco Ltd. increased its stake in Kinetik by 22.4% in the 4th quarter. Invesco Ltd. now owns 1,775,216 shares of the company's stock valued at $63,997,000 after buying an additional 325,251 shares during the period. 21.11% of the stock is owned by hedge funds and other institutional investors.
Key Stories Impacting Kinetik
Here are the key news stories impacting Kinetik this week:
- Positive Sentiment: Truist raised its Kinetik price target to $59 from $53 and maintained a “buy” rating. The higher target implies meaningful upside from recent trading levels and signals increased confidence in the company’s outlook. Benzinga analyst report
- Positive Sentiment: Kinetik received a rating upgrade in a recent Seeking Alpha analysis. The report said factors affecting upstream activity are likely to dominate the company’s performance, providing a more constructive view of its growth and operating prospects. Seeking Alpha Kinetik analysis
- Neutral Sentiment: Kinetik’s latest quarterly results remain a favorable fundamental backdrop: revenue increased 36.3% year over year to $581.44 million, while adjusted earnings of $0.64 per share exceeded the $0.19 consensus estimate. However, this information was previously reported and may already be reflected in the stock’s valuation.
- Negative Sentiment: Major shareholder ISQ Global Fund II GP LLC sold 310,691 shares between August 10 and August 12 for approximately $16.0 million. The repeated sales reduce the fund’s position and could pressure the stock by adding share supply or raising concerns about near-term insider conviction. SEC shareholder transaction filing
- Negative Sentiment: Director Deborah L. Byers sold 2,739 shares at an average price of $51.51, reducing her holdings by about 10%. The sale is relatively modest but adds to the recent pattern of insider disposals. SEC director transaction filing
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Tudor Pickering started coverage on Kinetik in a report on Monday, July 20th. They set a "buy" rating and a $57.00 target price for the company. Citigroup restated a "buy" rating and set a $55.00 price objective (up from $52.00) on shares of Kinetik in a report on Tuesday. Mizuho upped their price objective on shares of Kinetik from $48.00 to $51.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Barclays set a $51.00 target price on shares of Kinetik and gave the stock an "equal weight" rating in a report on Thursday, August 6th. Finally, Truist Financial lifted their target price on shares of Kinetik from $53.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Kinetik currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.87.
Get Our Latest Analysis on Kinetik
About Kinetik
(
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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