Insider Selling: Kinetik (NYSE:KNTK) Insider Sells 2,907 Shares of Stock

Kinetik Holdings Inc. (NYSE:KNTK) insider Steven Stellato sold 2,907 shares of Kinetik stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total transaction of $136,396.44. Following the sale, the insider directly owned 393,382 shares of the company’s stock, valued at $18,457,483.44. This represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Kinetik Trading Down 0.3%

Shares of KNTK stock traded down $0.16 on Friday, hitting $45.57. The stock had a trading volume of 974,173 shares, compared to its average volume of 1,479,206. The company has a fifty day moving average price of $40.62 and a two-hundred day moving average price of $39.07. Kinetik Holdings Inc. has a twelve month low of $31.33 and a twelve month high of $54.94. The firm has a market cap of $7.36 billion, a P/E ratio of 17.73, a PEG ratio of 1.11 and a beta of 0.70.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Kinetik in a research note on Thursday, January 22nd. Citigroup boosted their price target on Kinetik from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company raised their target price on Kinetik from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Royal Bank Of Canada reduced their price target on Kinetik from $52.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Finally, Barclays increased their price target on Kinetik from $40.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Kinetik currently has an average rating of “Hold” and an average target price of $45.55.

Institutional Investors Weigh In On Kinetik

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its position in shares of Kinetik by 89.8% during the 4th quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after purchasing an additional 352 shares in the last quarter. Signaturefd LLC raised its stake in Kinetik by 101.5% during the 4th quarter. Signaturefd LLC now owns 802 shares of the company’s stock worth $29,000 after buying an additional 404 shares during the period. Kestra Advisory Services LLC bought a new position in Kinetik in the fourth quarter worth approximately $33,000. Los Angeles Capital Management LLC bought a new position in Kinetik in the fourth quarter worth approximately $40,000. Finally, Huntington National Bank grew its stake in Kinetik by 139.1% in the fourth quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after acquiring an additional 711 shares during the period. 21.11% of the stock is owned by institutional investors.

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.