Kinetik Holdings Inc. (NYSE:KNTK) Short Interest Down 14.0% in January

Kinetik Holdings Inc. (NYSE:KNTK) saw a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 7,715,320 shares, a decrease of 14.0% from the January 15th total of 8,974,190 shares. Approximately 5.0% of the shares of the company are short sold. Based on an average daily volume of 1,258,481 shares, the short-interest ratio is presently 6.1 days. Based on an average daily volume of 1,258,481 shares, the short-interest ratio is presently 6.1 days. Approximately 5.0% of the shares of the company are short sold.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Raymond James Financial set a $46.00 target price on shares of Kinetik in a report on Monday, January 5th. Zacks Research cut Kinetik from a “hold” rating to a “strong sell” rating in a research report on Monday, January 5th. The Goldman Sachs Group cut their price target on Kinetik from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Citigroup lowered their price objective on Kinetik from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Finally, Mizuho set a $48.00 target price on Kinetik in a research report on Wednesday, October 29th. Six investment 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.com, Kinetik currently has a consensus rating of “Hold” and a consensus price target of $46.00.

Kinetik Price Performance

Shares of NYSE KNTK traded down $0.54 during midday trading on Tuesday, reaching $41.00. 832,827 shares of the company traded hands, compared to its average volume of 1,132,214. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 97.62, a PEG ratio of 1.01 and a beta of 0.73. The stock has a 50-day moving average price of $37.96 and a 200 day moving average price of $38.69. Kinetik has a 52 week low of $31.33 and a 52 week high of $61.95.

Insider Activity

In other news, insider Matthew Wall sold 8,083 shares of Kinetik stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $36.05, for a total value of $291,392.15. Following the completion of the transaction, the insider directly owned 554,738 shares of the company’s stock, valued at approximately $19,998,304.90. The trade was a 1.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Kinetik

A number of institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its position in shares of Kinetik by 42.1% during the 4th quarter. Cetera Investment Advisers now owns 28,409 shares of the company’s stock valued at $1,024,000 after purchasing an additional 8,416 shares during the period. Amundi bought a new position in Kinetik during the fourth quarter valued at about $428,000. Laurion Capital Management LP bought a new position in Kinetik during the fourth quarter valued at about $759,000. Price T Rowe Associates Inc. MD lifted its holdings in Kinetik by 27.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,392 shares of the company’s stock valued at $1,673,000 after acquiring an additional 9,906 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in Kinetik by 561.0% in the 4th quarter. Advisory Services Network LLC now owns 8,480 shares of the company’s stock valued at $306,000 after acquiring an additional 7,197 shares during the last quarter. 21.11% of the stock is currently owned by institutional investors and hedge funds.

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.