Kinetik (NYSE:KNTK) Insider Matthew Wall Sells 3,222 Shares

Kinetik Holdings Inc. (NYSE:KNTK) insider Matthew Wall sold 3,222 shares of Kinetik stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $46.92, for a total value of $151,176.24. Following the transaction, the insider owned 585,556 shares in the company, valued at $27,474,287.52. This represents a 0.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Matthew Wall also recently made the following trade(s):

• On Friday, January 2nd, Matthew Wall sold 8,083 shares of Kinetik stock. The stock was sold at an average price of $36.05, for a total value of $291,392.15.

Kinetik Trading Down 0.3%

NYSE KNTK traded down $0.16 during trading on Friday, reaching $45.57. 974,173 shares of the company’s stock were exchanged, compared to its average volume of 1,806,309. Kinetik Holdings Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $54.94. The firm has a market capitalization of $7.36 billion, a PE ratio of 17.73, a P/E/G ratio of 1.12 and a beta of 0.70. The company’s fifty day simple moving average is $40.62 and its 200-day simple moving average is $39.07.

Kinetik (NYSE:KNTK) last released its earnings results on Thursday, February 26th. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $2.01. The company had revenue of $430.42 million for the quarter. Kinetik had a negative return on equity of 32.70% and a net margin of 29.23%.The company’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $0.01 EPS.

Institutional Trading of Kinetik

Several large investors have recently added to or reduced their stakes in the business. Comerica Bank increased its stake in shares of Kinetik by 91.5% during the 1st quarter. Comerica Bank now owns 1,532 shares of the company’s stock worth $80,000 after purchasing an additional 732 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Kinetik by 4.2% in the 1st quarter. AQR Capital Management LLC now owns 12,900 shares of the company’s stock valued at $670,000 after purchasing an additional 522 shares during the last quarter. Millennium Management LLC boosted its holdings in Kinetik by 88.7% in the first quarter. Millennium Management LLC now owns 132,533 shares of the company’s stock worth $6,884,000 after purchasing an additional 62,306 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Kinetik by 27.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,532 shares of the company’s stock worth $4,131,000 after buying an additional 17,034 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in Kinetik by 14.3% during the first quarter. Intech Investment Management LLC now owns 22,114 shares of the company’s stock worth $1,149,000 after buying an additional 2,766 shares during the last quarter. 21.11% of the stock is owned by institutional investors.

More Kinetik News

Here are the key news stories impacting Kinetik this week:

• Positive Sentiment: Big earnings beat and upbeat outlook — Kinetik reported a large Q (Feb) EPS beat and revenue growth, and Citi lifted its target following the results, supporting upside expectations. Citi Lifts Kinetik Holdings (KNTK) Target Following Earnings Beat and Positive Outlook
• Positive Sentiment: Scotiabank raised its price target to $49 and assigned a “sector outperform” rating, implying further upside from current levels. Benzinga
• Positive Sentiment: Additional analyst target lift — American Banking News / other outlets reported a higher $51 price target, adding to upgrade momentum from brokers. Kinetik (NYSE:KNTK) Price Target Raised to $51.00
• Neutral Sentiment: Barclays nudged its target up to $43 but kept an “equal weight” rating, signaling limited conviction — this is less bullish relative to other banks and implies potential sideways pressure. Benzinga
• Negative Sentiment: Insider selling: three executives (Matthew Wall, Steven Stellato and Trevor Howard) sold small stakes (each ~0.5–0.7% reductions) at ~ $46.92 per share on Mar 4 — the volumes and % changes are modest but can weigh on near-term sentiment. Insider Form 4 (Matthew Wall)

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wolfe Research lowered shares of Kinetik from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 27th. Wells Fargo & Company upped their price target on shares of Kinetik from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Jefferies Financial Group cut Kinetik from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a research report on Friday, February 6th. Royal Bank Of Canada lowered their target price on Kinetik from $52.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Finally, Wall Street Zen raised Kinetik from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Kinetik has an average rating of “Hold” and an average target price of $45.55.

Kinetik Company Profile

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.