Kinetik (NYSE:KNTK) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Kinetik (NYSE:KNTK) from a hold rating to a sell rating in a report released on Saturday.

Other equities research analysts also recently issued reports about the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $50.00 price target (up from $49.00) on shares of Kinetik in a report on Thursday, April 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinetik in a report on Tuesday, April 21st. Zacks Research upgraded shares of Kinetik from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. UBS Group decreased their target price on shares of Kinetik from $49.00 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Finally, Scotiabank raised their target price on shares of Kinetik from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.42.

Kinetik Stock Performance

KNTK stock opened at $47.41 on Friday. Kinetik has a one year low of $31.33 and a one year high of $51.11. The stock has a market capitalization of $7.69 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. The company has a fifty day moving average of $46.84 and a 200-day moving average of $40.77.

Kinetik (NYSE:KNTK) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.23). Kinetik had a net margin of 28.58% and a negative return on equity of 38.92%. The company had revenue of $409.98 million during the quarter. During the same period in the previous year, the company earned $0.05 EPS. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. Equities analysts forecast that Kinetik will post 1.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Kinetik

In other Kinetik news, insider Matthew Wall sold 3,222 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $46.92, for a total transaction of $151,176.24. Following the completion of the sale, the insider owned 585,556 shares in the company, valued at $27,474,287.52. The trade was a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $50.52, for a total transaction of $27,006,173.28. Following the transaction, the insider directly owned 428,894 shares of the company’s stock, valued at approximately $21,667,724.88. This trade represents a 55.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,078,855 shares of company stock worth $232,935,999 in the last ninety days. 3.56% of the stock is currently owned by company insiders.

Institutional Trading of Kinetik

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its stake in Kinetik by 89.8% during the fourth quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after buying an additional 352 shares in the last quarter. Signaturefd LLC lifted its stake in Kinetik by 101.5% during the fourth quarter. Signaturefd LLC now owns 802 shares of the company’s stock valued at $29,000 after buying an additional 404 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Kinetik during the fourth quarter valued at about $33,000. Los Angeles Capital Management LLC purchased a new stake in Kinetik during the fourth quarter valued at about $40,000. Finally, Huntington National Bank lifted its stake in Kinetik by 139.1% during the fourth quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after buying an additional 711 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

About Kinetik

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.